Fangda represented WuXi XDC Cayman Inc. (HK stock code: 2268) (the “Company”) in the placing of 22,227,000 new shares of the Company at a share price of HK$58.85 each involving an aggregate consideration of approximately US$166 million (HK$1,300 million). Proceeds from the placing will be applied to further expansion of the Company’s service capability and capacity including, but not limited to, its production capacity in relation to clinical and commercial manufacturing for bioconjugates, drug substances and products.

Fangda’s corporate team and Hong Kong ECM team fully participated in the Company’s first follow-on primary placing after its spin-off listing in 2023. The Hong Kong ECM team was involved in the negotiation of transaction documents, provision of legal advice and preparation of disclosure and other documents, while the corporate team assisted the Company in fulfilling the filing procedures with the China Securities Regulatory Commission (CSRC).

The Hong Kong ECM team was led by partner Arman Lie, with team members including counsel Jonathan Wallenberger and associates Brian Kwok and Lizzie Cheong. The corporate team was led by partners Jeffrey Ding and Diana Li, with team members including counsels Siyu Chen and Cassie Chang and associates Shadow Ye, Jiequan Guan and Cece Zhang.