Baker McKenzie successfully acted for Mediland Pharm Limited (MPH), a cosmetics and health products retailer servicing the Chinese inbound tourism sector in Australia, on its IPO and listing on the ASX. The initial market capitalisation for the Company came in at AUD$62.5 million.
Mediland was founded in 2002 and over the past 16 years has become a market leading retailer for the growing Chinese tourism sector, selling branded cosmetic and health products that are manufactured in Australia and a selection of wool products and jewelry.
It has partnerships with major Chinese travel agencies and tour operators that bring large groups of tourists through its shop front doors every day.
Mediland currently has stores in Sydney, Melbourne and the Gold Coast – all seeing significant foot traffic from Chinese tourists.
Baker McKenzie's head of financial services, Bill Fuggle stated: "We were delighted to act for our client, Mediland Pharm Limited, on what was a successful launch on the ASX. The listing will assist the company raise capital to expand their future operations."
Mediland Pharm is owned and operated by a first generation Australian family with a proud Chinese heritage.
Bill was assisted by Baker McKenzie lawyer, Amy Xi.