Yunkang Group Limited’s $140 Million Hong Kong Listing

Kirkland & Ellis and Zhong Lun advised Yunkang Group Limited on the deal. Herbert Smith Freehills advised CMB International Capital Limited and SPDB International Capital Limited.

Yunkang Group Limited (HKSE: 2325), a leading medical operation service provider in China that offers a full suite of diagnostic testing services for medical institutions, announced its global offering and listing on The Stock Exchange of Hong Kong Limited on May 18, 2022. 

Yunkang is the fifth largest market player in China’s medical operation services sector. Its main business lines include providing diagnostic outsourcing services and diagnostic testing services for medical institutions alliances as well as for non-medical institutions. The pre-IPO and cornerstone investors in Yunkang’s IPO included SPDB International (Hong Kong) Limited, a company indirectly owned by Shanghai Pudong Development Bank Co., Ltd., Harvest International Premium Value (Secondary Market) Fund SPC (acting on behalf of Harvest High Yield SP) and YHLO (Hong Kong) Limited. The IPO raised approximately $140 million.

The Kirkland team was led by capital markets partners Mengyu Lu (Picture) and Samantha Peng, with support from capital markets associate Kelvin Li, registered foreign lawyer Bill Feng and other capital markets legal professionals in the region. Debt finance partner Jacqueline Zheng also provided support. 

Partners Matt Emsley, Stanley Xie and Jin Kong jointly led the team advising the joint sponsors, assisted by senior associate Kris Cheung, associates Sean Ji, Kaiwen Sun and Sean Gao, legal assistant Ting Wang and trainee solicitor Ken Yeung.

The Zhong Lun team was led by partner Limin Chen, senior consultant Hui Yang and partner Victor Chen. Other team members included Haochi Zuo, Tina Lan, Xiaoqiu Li, Yu Ren and Jiajun Lu.

Involved fees earner: Kris Cheung – Herbert Smith Freehills; Matt Emsley – Herbert Smith Freehills; Sean Gao – Herbert Smith Freehills; Jin Kong – Herbert Smith Freehills; Stanley Xie – Herbert Smith Freehills; Bill Feng – Kirkland & Ellis; Kelvin Li – Kirkland & Ellis; Mengyu Lu – Kirkland & Ellis; Samantha Peng – Kirkland & Ellis; Jacqueline Zheng – Kirkland & Ellis; Limin Chen – Zhong Lun Law Firm; Victor Chen – Zhong Lun Law Firm; Tina Lan – Zhong Lun Law Firm; Xiaoqiu Li – Zhong Lun Law Firm; Jiajun Lu – Zhong Lun Law Firm; Yu Ren – Zhong Lun Law Firm; Hui Yang – Zhong Lun Law Firm; Haochi Zuo – Zhong Lun Law Firm;

Law Firms: Herbert Smith Freehills; Kirkland & Ellis; Zhong Lun Law Firm;

Clients: CMB International Capital Limited; SPDB International Holdings Limited; Yunkang Group Limited;