Campbells acted as Cayman Islands legal counsel to Rainmed Medical Limited ("Rainmed") in connection with its HK$146 Million (approximately US$19 Million) initial public offering and listing of its 23,348,000 shares (before exercise of over-allotment option) on the Main Board of the Hong Kong Stock Exchange. The listing raised gross proceeds of approximately HK$146 billion (approximately US$19 million). Rainmed raised additional funds from the issue and allotment of 451,000 shares pursuant to the partial exercise of the over-allotment option.
O'Melveny & Myers acted as Hong Kong and US counsel, with Jingtian & Gongchen acting as PRC counsel, respectively, to Rainmed in this IPO. Herbert Smith Freehills acted as Hong Kong and US counsel, with Grandall Law Firm (Shanghai) acting as PRC counsel, respectively, to Huatai Financial Holdings (Hong Kong) Limited, which acted as the sole sponsor and sole global coordinator for this IPO.
Founded in 2014, Rainmed is a China-based medical device company, which currently focuses on the designing, development and commercialization of coronary angiography-derived fractional flow reserve system and coronary angiography-derived index of microvascular resistance system. Partner Jenny Nip led the transaction with support from Paralegal Chantelle Chan.