Jurisdiction - Hong Kong
Kirkland & Ellis Advises China Traditional Chinese Medicine On Its HKD 8.2bn Share Issuance.

15 May, 2015


Kirkland & Ellis has advised China Traditional Chinese Medicine Co. Limited on its issuance of new shares to its controlling shareholder Sinopharm and two executive directors, and its share placement to 26 professional and institutional investors (including GIC) for a total amount of HKD 8.2bn (approximately USD 1.05bn). The share placement was initially announced on the Hong Kong Stock Exchange on March 30, 2015, and has been completed this week.


The Kirkland team was led by Hong Kong-based corporate partners Frank Sun, Joey Chau and David Yun.


Kirkland & Ellis is also acting for China Traditional Chinese Medicine in its HKD 11.2bn (approximately USD 1.43bn) acquisition of a 87.30% stake in Jiangyin Tianjiang Pharmaceutical Co. Ltd., the largest manufacturer of concentrated traditional Chinese medicine granules (中藥配方顆粒) in China, from eight sellers including, among others, two CICC-affiliated funds, Shanghai-listed Shanghai Jiahua United Co., Ltd. and Shanghai-listed Guangdong Keda Clean Energy Co., Ltd. The deal, first announced on January 27, 2015, constituted a very substantial acquisition of China Traditional Chinese Medicine for the purpose of Hong Kong Listing Rules and is subject to shareholders’ approval. 


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