Eversheds Sutherland advises Gaush Meditech Limited on Hong Kong IPO

 

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.