Maples Group Advises on Landmark Reverse Takeover under Hong Kong Chapter 18A
Maples and Calder, the Maples Group’s law firm, is pleased to have advised Genor Biopharma Holdings Limited (“Genor Biopharma”), a company listed on the Hong Kong Stock Exchange (“HKEX”) under Chapter 18A of the Listing Rules, on its merger with Edding Group Company Limited (“Edding Group”). Upon completion of the transaction on 30 December 2025, Genor Biopharma has been renamed to Edding Genor Group Holdings Limited and continues to be listed on the HKEX. The transaction implies a value of approximately US$874 million and marks the first reverse takeover involving a Chapter 18A listed company in Hong Kong’s capital markets.
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The HKEX’s Chapter 18A regime, introduced in 2018, was designed to attract pre-revenue issuers in high-growth technology and biotechnology sectors amid growing competition from the US and China mainland stock exchanges.
Genor Biopharma is a China-based, innovation-driven biopharmaceutical company specialising in the discovery, development, and commercialisation of oncology and autoimmune therapies. It was listed on the HKEX main board in 2020 through the Chapter 18A listing regime.
A team of lawyers based in the firm’s Hong Kong office acted as Cayman Islands counsel to Genor Biopharma. The team was led by Partner, Juno Huang, with assistance from Legal Manager, Clare Tsang.
Commenting on the transaction, Juno said: “We are delighted to have advised on this pioneering HK capital markets transaction. Building on our role in Genor’s Hong Kong IPO in 2020, the Maples Asia Corporate Team helped to facilitate a seamless merger that positions the combined group for long-term growth. This matter underscores our Team’s market leading depth of experience in first-of-a-kind, complex M&A and regulatory compliance transactions.”
Haiwen & Partners acted as Hong Kong and PRC legal counsel to Genor. Kirkland & Ellis acted as Hong Kong legal counsel to Edding Group and Jingtian & Gongcheng acted as PRC legal counsel to Edding Group.
