15 December, 2015
Baker & McKenzie has advised China Jiuhao Health Industry Corporation Limited ("China Jiuhao Health") on the issuance of 6,837,619,860 Subscription Shares for raising gross proceeds of HK$547 million. China Jiuhao Health is an investment holding company whose subsidiaries are involved in offline and online healthcare, wellness services and media business.
Under the terms of the agreement, Huayi Brothers, Tencent and other investors, have entered into separate subscription agreements with China Jiuhao Health through their respective wholly-owned subsidiaries. The other major investor to the deal is Yunfeng Capital, founded by Mr. Jack Ma and Mr. David Yu. Upon completion, Huayi Brothers and Tencent together will own in aggregate approximately 33.85% of the enlarged issued share capital of China Jiuhao, while the Other Investors will own in aggregate approximately 16.81% of the enlarged issued share capital. The proceeds from the investors will be used to develop China Jiuhao Health's media business, with the company exploring the global media market with a focus on bringing content to audiences in the Greater China Region. A further goal is to become a prominent player in offline and online cultural and new media industries.
The Baker & McKenzie team advising China Jiuhao Health was led by Lawrence Lee and Christina Lee, Hong Kong-based Merger and Acquisition partners, supported by Associates Eve Chan and Chris Tsao.
Commenting upon the deal, Christina Lee said "We are delighted to have advised China Jiuhao Health on this transaction. It is an exciting time for China Jiuhao Health as it pursues the development of its media empire in China. The deal also brings together funding from some of China's best known companies and individuals."
