Tian Yuan served as the issuer counsel of Wenzhou Kangning Hospital for its initial H-share issuance and listing in the main board of Stock Exchange of Hong Kong Limited (HKEX) on November 20, 2015, and this was the first concept stock of mental hospital in HKEX. Partner Ping Xu, Xi Zeng and their team members Zhen Yu and Dandan Wang in Tian Yuan provided full legal services for the project, including the investorattraction, stock incentive mechanism, reform and reorganization, collocation and investment, share issuance, listing and some others.
Kangning Hospital is the biggest private mental medical group in China specialized in providing mental medical services via special institutions. Wenzhou Kangning Hospital, established in 1996 as a subsidiary of Kangning Hospital, has developed into the only private mental hospital among the best ones in China. Kangning Hospital, with nine subordinated medical institutions of more than 3000 beds, has covered its services on Zhejiang, Beijing, Bohai Economic Rim and southwestern China.
Kangning Hospital issued at the price of HK$ 38.7 per share and collected more than HK$ 610 million with 220,526,600 effective applications in Hong Kong, 125.3 times of over-subscription.This issuance opened at HK$ 44 and closed at HK$ 49.10, with a rise of 27%, and the highest price should reach HK$ 49.95. The raised capital will be used for the hospital’s expansion, network operation, subsidiaries promotion, scientific research, personnel training, online consultant and others to further strengthen Kangning’s leading position in domestic mental medical market.
Tian Yuan has provided legal services for many similar companies in recent years, including but not limited to Laobaixing Pharmacy Chain Co., Ltd., Sunflower Pharmaceutical Group Co., Ltd.,MedicalSystem Company, Qiming, OrbiMed, Shanghai Tellgen Life Science Co., Ltd., Hubei Eye Good Ophthalmic, Xiamen Amony Diagnostics Co., Ltd., Junhetang clinics, VR Medical Inc.