New Horizon Health HK$2.04 billion IPO
Davis Polk advised New Horizon Health Limited in connection with its initial public offering and listing on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A and Regulation S. The gross proceeds from the offering amounted to approximately HK$2.04 billion (US$263 million) prior to any exercise of the over-allotment option.
Founded in November 2015, New Horizon Health Limited is the pioneer in China’s colorectal cancer screening market with ColoClear, its proprietary, non-invasive, multi-target, FIT-DNA test, being the first and only molecular cancer screening test in China approved by NMPA, according to Frost & Sullivan.
The Davis Polk corporate team included partners Yang Chu and Howard Zhang, counsel Xuelin (Steve) Wang, registered foreign lawyer Jennifer Liu and associates Lillian Lian, Vivian Chow and Tracy Wu. Counsel Alon Gurfinkel and associate Veronica Davis provided tax advice. Members of the Davis Polk team are based in the Hong Kong, Beijing and London offices.