Kirkland Assists Alebund on its Hong Kong IPO

Kirkland & Ellis represented the joint sponsors, including Jefferies Hong Kong Limited, Merrill Lynch (Asia Pacific) Limited and Huatai Financial Holdings (Hong Kong) Limited on the initial public offering of Alebund Pharmaceuticals (Jiangsu) Limited (Alebund, HKEX: 9637) on the Main Board of The Stock Exchange of Hong Kong Limited on June 29, 2026.

Alebund successfully offered 56,755,400 H Shares (Offer Shares) at an initial public offering price of HK$22.60 per share and raised approximately HK$1.28 billion prior to the exercise of the 15% over-allotment option, with the Hong Kong public offering tranche oversubscribed by approximately 963.56 times and international offering tranche oversubscribed by approximately 19.77 times.

Alebund is a biopharmaceutical company providing renal therapies with the broadest drug candidates in terms of renal indication coverage globally, according to CIC. Alebund attracts significant cornerstone investments from 11 prestigious investors including GIC, Loomis Sayles, RTW Funds, Symbiosis, Tencent, Cormorant, Dymon Asia, GF Fund, China Universal, E Fund and LVC, with an aggregate amount of US$81.5 million which represents approximately 49.78% of the Offer Shares.

The Kirkland team included capital markets lawyers Mengyu Lu, George Zheng, Yuchen Han and Jingwen Dong.