Zai Lab Announces Primary Listing on the Main Board of The Stock Exchange of Hong Kong Limited

Rhea-AI Summary

Zai Lab Limited (NASDAQ: ZLAB; HKEX: 9688) has successfully transitioned from a secondary to a primary listing on the Hong Kong Stock Exchange, marking a first for any company. This dual-primary listing enhances access for investors and broadens Zai Lab's shareholder base, thereby improving liquidity and visibility in global markets. The move is aligned with Zai Lab's strategy to attract investors and leverage the potential of the China-Hong Kong Stock Connect, which will facilitate trading for Chinese investors. This shift underscores the company's commitment to improving healthcare solutions worldwide.

Positive

• First company to convert from secondary to primary listing in Hong Kong.
• Enhanced investor access and liquidity through dual-primary listing.
• Potential eligibility for China-Hong Kong Stock Connect, increasing investor base.

Negative

• None.

–   First company to Convert from Secondary to Primary Listing Status in Hong Kong

–   Our dual Primary Listing on the Nasdaq and Hong Kong Stock Exchange provides greater access for investors

SHANGHAI and SAN FRANCISCO and CAMBRIDGE, Mass., June 27, 2022 (GLOBE NEWSWIRE) -- Zai Lab Limited (NASDAQ: ZLAB; HKEX: 9688), a patient-focused, innovative, commercial-stage, global biopharmaceutical company, today announced that it has completed its voluntary conversion of its secondary listing status to a primary listing on the Main Board of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”). Zai Lab is now a dual-primary listed company on both Nasdaq and the Hong Kong Stock Exchange.

“As we execute our globalization and growth strategy, we are pursuing new ways to attract potential investors who share Zai Lab’s vision for discovering, developing, and commercializing medicines to improve the lives of patients worldwide,” said Billy Cho, Chief Financial Officer of Zai Lab. “We believe our conversion from secondary to primary listing status will allow us to attract more potential investors on the Hong Kong Stock Exchange, helping us to broaden our shareholder base and enhance the liquidity and profile of our securities in the global market. In addition, our ordinary shares listed on the Hong Kong Stock Exchange may soon be eligible for the China-Hong Kong Stock Connect, a link between mainland China and Hong Kong, giving Chinese investors increased ability to buy and sell our securities in Hong Kong.”

“This is the first time a company has made the transition from secondary to primary listing on the Hong Kong Stock Exchange, and we look forward to putting any additional resources to work to positively impact the health of patients in China and around the world,” added Cho.

About Zai Lab

Zai Lab Limited (NASDAQ: ZLAB; HKEX: 9688) is an innovative, research-based, commercial-stage biopharmaceutical company based in China and the United States focused on bringing transformative medicines for oncology, autoimmune disorders, infectious diseases, and neurological disorders to patients in China and around the world. Our goal is to leverage our competencies and resources to positively impact human health worldwide.

For additional information about Zai Lab, including information on our products, business activities and partnerships, research, or other events or developments, please visit www.zailaboratory.com or follow us at www.twitter.com/ZaiLab_Global.

Zai Lab Forward-Looking Statements

This press release contains forward-looking statements relating to Zai Lab’s voluntary conversion to dual-primary listing on The Main Board of The Stock Exchange of Hong Kong Limited and the effective date thereof as well as relating to the effects of such voluntary conversion on the Company’s investor and shareholder base and on the trading volume, liquidity, and profile of the Company’s securities. These forward-looking statements can be identified by words such as “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “plan,” “possible,” “potential,” “will,” “would” and other similar expressions. Such statements constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact nor are they guarantees or assurances of future performance. Forward-looking statements are based on our expectations and assumptions as of the date of this press release and are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including but not limited to (1) our ability to successfully commercialize and generate revenue from our approved products, (2) our ability to obtain funding for our operations and business initiatives, (3) the results of our clinical and pre-clinical development of our product candidates, (4) the content and timing of decisions made by the relevant regulatory authorities regarding regulatory approvals of our product candidates, (5) the effects of the novel coronavirus (COVID-19) pandemic on our business and general economic, regulatory and political conditions, (6) risks related to doing business in China, and (7) other factors identified in our most recent annual and quarterly reports and in other reports we have filed with the U.S. Securities and Exchange Commission. We anticipate that subsequent events and developments will cause our expectations and assumptions to change, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Our SEC filings can be found on our website at www.zailaboratory.com and on the SEC’s website at www.sec.gov.

For more information, please contact:

Investor Relations: Lina Zhang
+86 136 8257 6943
lina.zhang@zailaboratory.com

Media: Danielle Halstrom / Xiaoyu Chen
+1 (215) 280-3898 / +86 185 0015 5011
danielle.halstrom@zailaboratory.com / xiaoyu.chen@zailaboratory.com

Source: Zai Lab Limited

FAQ

What is Zai Lab's recent listing status change?

Zai Lab has converted from a secondary to a primary listing on the Hong Kong Stock Exchange.

How does Zai Lab's dual-primary listing affect investors?

It provides greater access for investors and enhances liquidity and visibility in global markets.

What is the significance of Zai Lab's primary listing on the Hong Kong Stock Exchange?

This is the first time a company has made such a transition, allowing Zai Lab to attract more potential investors.

What opportunities does the China-Hong Kong Stock Connect provide for Zai Lab?

It may allow Chinese investors increased ability to buy and sell Zai Lab's securities in Hong Kong.