On May 24, 2024, SciClone Pharmaceuticals (Holdings) Limited published its scheme document in respect of its proposed privatization by its controlling shareholder, GL Capital, by way of a scheme of arrangement at an offer price of HK$18.8 per share in cash. The maximum total consideration of the privatization proposal is approximately HK$8.76 billion (equivalent to approximately $1.12 billion).
SciClone Pharmaceuticals is principally engaged in the development and commercialization of its portfolio of pharmaceutical products, with a focus on therapeutic areas including oncology and severe infection. GL Capital is an investment firm that focuses on buyout and growth opportunities in China’s healthcare industry.
S&C is advising the independent board committee of SciClone Pharmaceuticals on the privatization proposal and the team comprises Gwen Wong and Rosana Tse.