On 18 February 2022, Clarity Medical Group Holding Limited (“Clarity Medical”; Stock Code: 01406.HK) completed its IPO and listing on the main board of The Stock Exchange of Hong Kong Limited (the “SEHK”). The total 136,000,000 shares were globally offered at an offer price of HK$1.6 per share and the total net proceeds from the global offering amounted approximately HK$170 million (exclusive of the over-allotment option).
Clarity Medical provides comprehensive ophthalmic services to its patients with a focus on offering various refractive treatment services including SMILE surgeries, multifocal IOL replacements and ICL implantations. According to Frost & Sullivan, Clarity Medical ranked the fourth in 2020 with a market share of 5.0% in terms of revenue from ophthalmic healthcare services among all private healthcare institutions in Hong Kong; and ranked the first in SMILE surgery and ICL implantation as well as the second in multifocal IOL replacement in terms of revenue generated from the respective type of treatment in 2020.
Jingtian & Gongcheng’s Hong Kong legal team as the Hong Kong legal adviser to the sole sponsor and underwriter provided one-stop, end-to-end legal services for the IPO and listing of Clarity Medical, including conducting due diligence, analyzing and resolving major legal issues, preparing listing application documents and responding to inquiries from regulators. We participated in the whole process of the IPO and listing, overcame various difficulties caused by the epidemic, and successfully completed this listing, obtaining unanimous approval from clients and intermediaries.
Jingtian & Gongcheng is a leading legal service provider in the fields of medical and life sciences, and has provided excellent services to clients on listings, acquisitions and mergers, and private equity financing involving clients specializing in pharmaceuticals, medical devices, medical institutions, and medical data. Jingtian & Gongcheng focuses on the research and innovation of cutting-edge issues in the industry, and can provide creative solutions that meet the interests of clients and the actual situation of the project. Up to now, Jingtian & Gongcheng has assisted nearly 80 companies in the medical and life science fields to complete their listings in different capital markets, our of which more than 40 companies are listing on the Hong Kong Stock Exchange. Representative cases include, Chaoju Eye Care Holdings Limited (stock code: 2219), Peijia Medical Limited (stock code: 9996), MicroPort CardioFlow Medtech Corporation (stock code: 2160) and Venus Medtech (Hangzhou) Inc. (stock code: 2500), etc..
