S&C Advises Underwriters on New Horizon Health IPO on Hong Kong Exchange

March 2, 2021

China's New Horizon Health Limited completed its US$263 million initial public offering and listing on the Hong Kong Stock Exchange on February 18.

The offering consists of an international offering under Rule 144A and Regulation S and a public offering in Hong Kong. The Hong Kong public offering was oversubscribed by 4,135 times, making New Horizon Health the second most oversubscribed stock in the history of Hong Kong IPOs.

New Horizon develops cancer screening tests and products. Its core product, ColoClear, is the first colorectal cancer screening test approved by the PRC National Medical Products Administration.

S&C acted as Hong Kong and U.S. counsel to the joint sponsors and underwriters, including Goldman Sachs and UBS.
The S&C team was led by Hong Kong partners Kay Ian Ng and Ching-Yang Lin and included Gwen Wong in Beijing. Jeffrey Hochberg and Saul Brander advised on U.S. tax matters.