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Eversheds Sutherland advises Gaush Meditech Limited on Hong Kong IPO

  • Germany

    14-12-2022

     

    Eversheds Sutherland has advised Gaush Meditech Limited on its successful initial public offering and listing on the Main Board of the Hong Kong Stock Exchange. The Eversheds Sutherland team advised Gaush with regard to German law.

    The IPO offering size was approximately HK$ 672 million (EUR 82 million). Assuming full exercise of the over-allotment option, the offering size will be approximately HK$ 772 million (EUR 94 million). Gaush’s market capitalisation amounted to HK$ 7.604 billion (EUR 929 million) on the first day of trading, the 12 December 2022. Morgan Stanley and Haitong International were the joint sponsors.

    Gaush is the largest domestic player and the fourth largest supplier in terms of 2021 revenue with a market share of 6.7 % in the ophthalmic medical device market in mainland China. The company distributes a broad product portfolio relating to ophthalmic medical devices utilized for diagnosis, treatment and surgeries. Proceeds from the listing will be used to enhance the company’s research and development capability, accelerate the commercialisation of its patents, and upgrade its equipment product portfolio.

    Previously, Eversheds Sutherland already advised Gaush Meditech Limited on the acquisition of the majority of the producer for ophthalmological diagnostic systems Roland Consult Stasche & Finger GmbH in 2020.

    The Eversheds Sutherland team led by Partner Dr. Alexander Honrath (capital markets) consisted of Partners Dr. Tobias Maier (IP), Dr. Stefan Diemer (tax, all Munich), Dr. Lars Haverkamp (tax, Düsseldorf), Counsel Magdalena Anna Kotyrba-Hagenmaier (IP), Jörg Käßner (tax), Of Counsel Justus Froehlich (capital markets, all Munich) as well as Associates Tobias Abersfelder (litigation, Hamburg), Malte Scheel (IP) and Ling Liu (Professional Support Lawyer, capital markets, both Munich).

    Eversheds Sutherland’s German capital markets team regularly advises on IPOs in Asia. In 2019, an international team from Germany and Hong Kong advised on the first IPO of a German healthcare company on the Main Board of the Hong Kong Stock Exchange. Further corporates have been advised by the German team on their IPOs on the Shanghai and Shenzhen stock exchanges.

     

    Dr. Alexander Honrath, Partner

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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    Eversheds Sutherland (Germany) Rechtsanwälte Steuerberater Solicitors Partnerschaft mbB is a partnership with limited professional liability (Partnerschaftsgesellschaft mit beschränkter Berufshaftung) under German law, with its registered seat in Munich, registered with the partnership register of the Munich District Court under PR 1947 and having its business address at Brienner Straße 12, 80333 München, Germany. Eversheds Sutherland (Germany) Rechtsanwälte Steuerberater Solicitors Partnerschaft mbB is part of a global legal practice consisting of separate and distinct legal entities that operate under the name Eversheds Sutherland and provide legal or other services to clients around the world. Each Eversheds Sutherland entity is a separate legal entity and is not responsible for the acts or omissions of, nor can bind or obligate, another Eversheds Sutherland entity. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client.