Silicon Valley offices of Chinese e-commerce company JD.com / Shutterstock.com Asia Deal Digest Dec. 2020: JD Health in Hong Kong IPO Frenzy and More
Skadden among top firms kept busy as Hong Kong braced for a spate of listings.
December 11, 2020 at 03:40 AM
6 minute read
Hong Kong/China
Skadden, Arps, Slate, Meagher & Flom Hong Kong partners Julie Gao, Christopher Betts, Paloma Wang and Shu Du have advised JD Health on a $3.5 billion Hong Kong initial public offering, the largest healthcare sector IPO in Asia. JD Health, which provides online healthcare services in China, is a subsidiary of Chinese e-commerce giant JD.com, which itself raised $4.4 billion in a secondary listing in Hong Kong earlier this year. The issuer made $1.3 billion in revenue in the first half of 2020 and recorded an average of over 120,000 daily consultations, compared to half that number before the COVID-19 pandemic. Beijing-based Shihui & Partners and Maples and Calder advised the issuer on Chinese and Cayman Islands law, respectively. All three firms also advised on JD.com's Hong Kong IPO in June. The underwriters, which included Bank of America Corp., Haitong International and UBS Group A.G. as joint sponsors, were advised by Cleary Gottlieb Steen & Hamilton and Han Kun Law Offices.
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Law Firms Mentioned
- Freshfields Bruckhaus Deringer
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- DeHeng Law Offices
- Skadden, Arps, Slate, Meagher & Flom LLP
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