Baker McKenzie has advised Town Health International Medical Group Limited ("Town Health" or "Company") to successfully resume trading of its shares on the Hong Kong Stock Exchange starting 1 March 2021 since its suspension in 2017. This marks an important case in Hong Kong where the Securities and Futures Commission (“SFC”) has permitted the trading of the Company’s shares to recommence under section 9(3) of the Securities and Futures (Stock Market Listing) Rules (Chapter 571V of the Laws of Hong Kong) subject to certain conditions.
Town Health is principally engaged in the provision of medical and dental services in Hong Kong; managing healthcare networks and provision of third-party medical network administrator services in Hong Kong; and provision of medical and dental services, as well as hospital management and related services in Mainland China.
The Baker McKenzie team was led by Partner Lawrence Lee with support from Partner Roberta Chan and Special Counsel Brian Wong, all based in Hong Kong. The team worked with the Company's directors and senior management and took a leading role in devising resumption strategies. In particular, the team had lead responsibility for ongoing communications with the SFC and the Hong Kong Stock Exchange, overseeing the independent investigation process and handling the legal and regulatory aspects of the resumption process.
"We congratulate the Company and its management on making this achievement possible and are grateful for their trust in us all along," Lawrence Lee said. "We are very pleased to have been able to draw on our in-depth regulatory compliance capabilities and industry knowledge in successfully resuming trading of Town Health’s shares. We would also like to thank the SFC for their guidance and assistance along the process."