Sidley represented MicroPort CardioFlow Medtech Corporation (HKEX: 2160) (MicroPort CardioFlow) as Hong Kong and U.S. counsel in its initial public offering (IPO) on the Main Board of the Stock Exchange of Hong Kong. The offering has raised a total of HK$2.51 billion (US$322 million). J.P. Morgan Securities (Far East) Limited, Citigroup Global Markets Asia Limited, and China International Capital Corporation Hong Kong Securities Limited acted as joint sponsors in the transaction.
The listing is a spinoff of the medical devices business from MicroPort Scientific Corporation (HKEX: 0853). MicroPort CardioFlow received strategic cornerstone investments from CPE Greater China Enterprises Growth Fund, Hillhouse Capital, Lake Bleu Prime, GIC, Taikang Life, Snow Lake Capital, Yi Fang Da Brocade, Golden Bridge, Indus Capital Partners, Woodline Partners, 3W Fund, Tybourne Capital Management, WT Asset Management Limited, China Asset Management, Pinpoint Asset Management, and Kunlun Group.
MicroPort CardioFlow is a medical device company in China focusing on the research, development, and commercialization of innovative transcatheter and surgical solutions for valvular heart diseases.
The Sidley team was led by Constance Choy, a member of Sidley’s Management Committee and Executive Committee and the managing partner for the Asia Pacific region, and partner Meng Ding.
Sidley provides multidisciplinary services for life sciences clients. We advise clients across the full spectrum of the business lifecycles, ranging from formation, corporate governance, and startup compliance operations for startups to collaboration, licensing, commercialization, and filing in the business development phase, including initial public offering, refinancing, and bonds/notes issuance, as well as domestic and cross-border mergers and acquisitions, asset restructuring, equity incentive plans, and privatizations.
Sidley continues to be the top IPO law firm in Hong Kong. According to the most recent data compiled by RyanBen Capital, Sidley remains the No. 1 legal adviser in the Hong Kong IPO league table by deal volume in the past 24 months (January 2019 to December 2020).
