MBMC Breaking News: Health 160 has received the filing notice for its Hong Kong IPO, with the planned issuance of no more than 61,452,500 ordinary shares.
According to the new overseas listing filing rules for domestic enterprises that took effect on March 31, 2023, when enterprises choose to list as H shares in Hong Kong, the former "small and large approval letters" have become history. Enterprises can directly submit their prospectuses for overseas listing, and the "large approval letter" will be replaced by a "filing notice".
Recently, the Department of International Cooperation of the China Securities Regulatory Commission (CSRC) issued the Overseas Issuance and Listing Filing Notice for 160 Health International Limited (Health 160 International Co., Ltd.)
(Guohehan [2024] No. 1832).
To 160 Health International Limited (Health 160 International Co., Ltd.):
We have received the overseas issuance and listing filing materials submitted by your company through its domestic operating entity, Shenzhen Weikang Zhiyuan Technology Co., Ltd. Pursuant to the Securities Law of the People's Republic of China, the Interim Measures for the Administration of Overseas Issuance and Listing of Securities by Domestic Enterprises and other regulations, we hereby notify the filing matters as follows:
1. Your company intends to issue no more than 61,452,500 overseas listed common shares and list on The Stock Exchange of Hong Kong Limited (HKEX).
2. From the date of issuance of this filing notice until the completion of this overseas issuance and listing, if any major events occur to your company, you shall report through the CSRC Filing Management Information System in accordance with the relevant regulations on overseas issuance and listing of domestic enterprises.
3. Within 15 working days after the completion of your company's overseas issuance and listing, you shall report the issuance and listing situation through the CSRC Filing Management Information System.
Your company shall strictly implement the rectification requirements put forward by the National Development and Reform Commission, the Ministry of Commerce, the Ministry of Industry and Information Technology and other departments in accordance with its commitments, and strictly abide by the relevant domestic and foreign laws, regulations and rules during the overseas issuance and listing process.
4. If your company fails to complete the overseas issuance and listing within 12 months from the date of issuance of this filing notice and intends to continue the process, you shall update the filing materials.
This filing notice only confirms the filing information for the company's overseas issuance and listing. It does not mean that the CSRC makes a substantive judgment or guarantee on the investment value of the company's securities or the returns of investors, nor does it mean that the CSRC guarantees or confirms the truthfulness, accuracy and completeness of the company's filing materials.
Health 160 submitted its prospectus to HKEX on December 15, 2023. Its main intermediary team for the listing includes: Shenwan Hongyuan and Clear Capital as its joint sponsors; PwC as its auditor; Defending Law Firm and Tianyuan (Hong Kong) as its company's Chinese legal counsel and Hong Kong legal counsel respectively; Han Kun Law Offices and Orrick, Herrington & Sutcliffe LLP as the sponsor's Chinese legal counsel and sponsor's Hong Kong legal counsel respectively; Frost & Sullivan as the industry consultant.
Founded in 2005, Health 160 is a leading digital healthcare service platform in China. According to Frost & Sullivan, in 2022, based on the number of appointments booked via the platform, the number of cooperating hospitals as of December 31, 2022, the number of cooperating tertiary hospitals as of December 31, 2022, and the number of healthcare professionals connected to the platform as of December 31, 2022, Health 160 was the largest digital healthcare service platform in China's digital healthcare comprehensive service industry in 2022. As of June 30, 2023, Health 160's platform has connected more than 30,000 medical and healthcare institutions and established cooperative relationships with more than 720,000 healthcare professionals. As of June 30, 2023, Health 160 had 44.9 million registered individual users, with an average monthly active user count of 3 million in the first half of 2023. Health 160's revenue comes from providing digital healthcare solutions.
Link to Health 160's prospectus:
https://www1.hkexnews.hk/app/sehk/2023/106023/documents/sehk23121501206_c.pdf
© 2021 Meishun (Hong Kong) Management Consulting Co., Ltd. and Meishun (Hangzhou) Management Consulting Co., Ltd. All rights reserved.
Meishun Meiyin (Hangzhou) Consulting Management Co., Ltd. is the domestic subsidiary of Hong Kong Meishun Management Consulting Co., Ltd. under the same actual controller. Both companies share the same actual controller and operate under the framework of One China. Both companies comply with the laws of Hong Kong and the Mainland of China.
← Back to list