Skadden, Arps, Slate, Meagher & Flom and Han Kun Law Offices have advised Chinese health-tech company Yidu Tech on its HK$4.1 billion ($531 million) initial public offering on the Hong Kong Stock Exchange, with Slaughter and May and Haiwen & Partners representing the joint sponsors and underwriters.
Yidu Tech provides big data and artificial intelligence-based solutions to the healthcare industry. According to Bloomberg, Yidu Tech’s Hong Kong debut attracted Tencent and seven other cornerstone investors, who committed to buying about $210 million of stock.
Last year saw a flurry of Chinese companies in the pharmaceutical/healthcare sector listing in Hong Kong. They included JD Health International, Antengene Corporation and Simcere Pharmaceutical Group.
The Skadden team was led by partners Julie Gao, Christopher Betts, Shu Du and Paloma Wang.
Meanwhile, partners John Moore and Clara Choi led the Slaughter and May team.
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