The Hong Kong office of Eversheds has advised BOCI Asia in connection with the HKD1.09bn (£86m) initial public offering (IPO) of Consun Pharmaceutical Group in Hong Kong.
Consun Pharmaceutical Group — which was successfully listed on 19 December 2013 — is an integrated pharmaceutical company principally engaged in the research, manufacturing and sale of modern Chinese medicines and medical-contrast medium in the PRC. Its key product, uremic clearance granule, is designed for treating kidney disease in the PRC.
The company raised HKD1.09bn by issuing 250 million shares, which represent 25 per cent of the company’s total issued share capital immediately after the completion of the IPO, at HKD4.36 each.
The Hong Kong public offering has been oversubscribed by approximately 130 times.
BOCI Asia, as the sole global co-ordinator, bookrunner, sponsor and lead manager, appointed Eversheds to represent it in this IPO. The Eversheds team was led by partners Stephen Mok and Norman Hui, assisted by Grace Leung, Karen Wang, Man-Wai Wong and Jocelyn Chow.