On September 28, 2020 Zai Lab Limited ("Zai Lab" or the "Company") (NASDAQ: ZLAB), an innovative commercial stage biopharmaceutical company, reported listing of its ordinary shares on the Main Board of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") under the stock code "9688" and the closing of its previously-announced Hong Kong secondary listing (the "Hong Kong Secondary Listing") of 10,564,050 new ordinary shares (the "Offer Shares" or "Shares") which comprises an international offering (the "International Offering") and a Hong Kong public offering (the "Hong Kong Public Offering," and together with the International Offering, the "Offering") (Press release, Zai Laboratory, SEP 28, 2020, View Source [SID1234567666]). The final offer price for both the International Offering and the Hong Kong Public Offering (the "Offer Price") has been set at HK$562.00 per Share. Based on the ratio of one (1) ordinary shares per Nasdaq-listed American depositary share ("ADS"), the Offer Price translates to approximately US$72.52 per ADS. The Company had also granted the international underwriters an over-allotment option, exercisable from September 22, 2020 until 30 days thereafter, to require the Company to issue up to an additional 1,584,600 new Shares at the Offer Price.

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The gross proceeds to Zai Lab from this Offering, before deducting underwriting discounts and commissions and other offering expenses, were approximately HK$5.94 billion.

J.P. Morgan Securities (Far East) Limited (or its affiliates, as the case may be), Goldman Sachs (Asia) L.L.C. and Citigroup Global Markets Asia Limited (or its affiliate, as the case may be) are the joint sponsors, joint global coordinators, joint bookrunners and joint lead managers for the proposed Hong Kong Secondary Listing.

The International Offering was made only by means of a prospectus supplement dated September 22, 2020 and the accompanying prospectus included in an automatic shelf registration statement on Form F-3ASR filed with the U.S. Securities and Exchange Commission (the "SEC") on March 29, 2019 and was subsequently amended and became automatically effective upon filing with the SEC on January 21, 2020. The registration statement on Form F-3ASR and the prospectus supplement dated September 22, 2020 are available at the SEC website at: View Source Copies of the prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from: (i) J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-866-803-9204 or by email at [email protected], (ii) Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282 or by telephone at 1-866-471-2526, or (iii) Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-800-831-9146 or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer or an invitation to buy any securities, nor shall there be any offer or sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. This press release does not constitute a prospectus (including as defined under the laws of Hong Kong) and potential investors should read the prospectus of the Company for detailed information about the Company and the proposed offering, before deciding whether or not to invest in the Company. This press release has not been reviewed or approved by the Hong Kong Stock Exchange or the Securities and Futures Commission of Hong Kong.

The price of the Shares of the Company may be stabilized in accordance with the Securities and Futures (Price Stabilization) Rules. The details of the intended stabilization and how it will be regulated under the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong) have been contained in the prospectus of the Company dated September 17, 2020.