Sidley advised on the initial public offering (IPO) and H share listing of Concord Healthcare Group Co., Ltd. (HKEX: 2453) (Concord Healthcare Group) on the Main Board of the Hong Kong Stock Exchange (HKEX). The offering raised approximately HK$562.9 million (US$72.2 million). Sidley acted as Hong Kong and U.S. counsel for the joint sponsors China International Capital Corporation Hong Kong Securities Limited, Haitong International Capital Limited, and the underwriters.
Concord Healthcare Group is an oncology healthcare service provider in China. It serves both cancer patients through its self-owned medical institutions and third-party medical institutions through its medical equipment, software and related services. In its self-owned medical institutions, the company provides a full spectrum of oncology healthcare services to cancer patients, leveraging its multidisciplinary team specialists and diagnosis and treatment capabilities featuring precision radiation therapy.
The Sidley team was led by partners Meng Ding and Claudia Yu. Other team members included senior associate Kevin Chan, associates Maggie Bai and Yiming Chen, China advisor Junlang Chen, legal manager Lexie Lu, and senior legal assistants Iris Lao, Freddie Feng, Alice Liu and Luting Cui.
Sidley is one of the international law firms which represented the largest number of Chinese companies in Hong Kong IPOs. Notably, it is the only Band One firm ranked by Chambers Greater China Region/APAC in life sciences for 14 consecutive years. It has also been ranked in equity capital markets for more than a decade, and has received a number of independent recognitions from publications such as Financial Times APAC Innovative Lawyers, China Business Law Journal, The Asset and Legal 500 APAC.
Sidley’s China Life Sciences practice is an integrated part of the firm’s Global Life Sciences practice, which has more than 200 dedicated lawyers worldwide. Sidley advises clients along the full business lifecycle, from company formation, corporate governance (including incentive plans), and compliance operations for the startup phase; to product collaboration, licensing, commercialization, and regulatory filing matters in the business development phase; to initial public offerings, refinancings, and debt issuances in the capital-raising phase; to further significant transactions including domestic and cross-border mergers and acquisitions, asset restructurings, and privatizations, as well as dispute resolution.