Appleby acted as the Cayman Island Counsel to POMDOCTOR LIMITED (POMDOCTOR) in relation to its initial public offering of 5,750,004 American Depositary Shares (ADSs) including the greenshoe exercise, representing 958,334 Class A ordinary shares of POMDOCTOR, at the public offering price of US$4.00 per ADS, raising gross proceeds of approximately US$23 million.
The transaction was led by Hong Kong and Mainland China Managing Partner David Bulley, Cayman Islands Partner Dean Bennett and Hong Kong Senior Associate Alejandra Gonzalez Saucedo, supported by a cross border team from Appleby’s Hong Kong office, including Associate Ashley Chung and Legal Manager Fanny Or.
POMDOCTOR is a leading online medical services platform in China, focusing on chronic disease management and pharmaceutical services, offering a one-stop platform for medical services, connecting patients with doctors and pharmaceutical products. The Company intends to allocate the net proceeds from its offering for their supply chain stocking, the expansion of their departmental and geographic coverage, research and development, as well as for working capital and general corporate purposes.
Appleby’s Corporate team excels in providing listing services, offering expertise in guiding offshore companies through IPOs, introductions, placements, and listings of equity and debt securities on globally recognised stock exchanges including those in the US, Hong Kong and Singapore.
