Gaush Meditech, the fourth largest ophthalmic medical device company in China, raised HKD672 million (USD86.34 million) in its Hong Kong listing, offering a total of 13.06 million shares at HKD51.4 per share.
Tianyuan Law Firm advised Gaush Meditech on Hong Kong law, O’Melveny advised on US law, Commerce & Finance Law Offices advised on PRC law, and Harneys advised on Cayman Islands law.
The Tianyuan team was led by managing partner Nan Li, assisted by partner Crystal Zhang and Isabelle Wu.
The O’Melveny team was led by corporate partners Geng Ke and Zhu Ke.
The Harneys team was led by Shanghai corporate partner Calamus Huang and senior associate Lily Zhang.
Morgan Stanley and Haitong International are the joint sponsors, Sullivan & Cromwell advised them on Hong Kong and US law, Jingtian & Gongcheng advised on PRC law.
One of the cornerstone investors of this IPO is Chen Bang, who is the co-founder and chairman of the board at Aier Eye Hospital. It is the largest private eye hospital in China and was listed on the GEM of the Shenzhen Stock Exchange in 2009.
According to Frost & Sullivan, Gaush Meditech is the largest domestic player in China accounting for 6.7% of the ophthalmic medical device market, and is the only such group in the country covering all seven ophthalmology sub-specialties.
