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JunHe Assisted HPGC to Subscribe for Preferred Shares of GNC Holdings

2019.02.25

On February 13th 2019, HARBIN PHARMACEUTICAL GROUP CO., LTD. (“HPGC”, stock code: 600664) completed the payment and registration formalities to subscribe for the convertible preferred shares of NYSE listed company GNC Holdings, Inc. (“GNC”, NYSE: GNC) in USD 29.995 million. After the project, HPGC held 299,950 preferred shares of GNC, the preferred shares are able to be transferred into ordinary shares with the price of USD 5.35 per share, HPGC will hold 40.1% shares of GNC and become the single strongest shareholder after the transference.


GNC is a well-known brand of health products, nutrition and nutrient supplements, owning over 9000 retail stores around the world and provides over 1500 healthcare products, GNC has more than 10000 categories of products and sales experience along with leading innovative capacity. This investment with GNC tends to be a long-term partnership with GNC to expand the product lines of HPGC, attracting talent to join HPGC, and improve R&D, production and sales capacity of HPGC, and enhancing the sustainability and core competency of HPGC.


JunHe, as exclusive PRC legal counsel to HPGC,and has fully participated in the project including: reviewing the deal documents and announcements, assisting in the approval and regulation documents and delivery. The two parties are listed on the NYSE and the SHEx separately, the JunHe team communicated and cooperated efficiently and thoroughly with HPGC and other intermediaries, and the project was successfully completed in the Trade War background for over one year, the JunHe team’s performance was highly recognized by client and other involved parties.


The leading partners for the project were Mr. WANG, Yi and Mr. JIANG, Wenjun (Kelvin).


JunHe is the only Chinese law firm to be admitted as a member of Lex Mundi and Multilaw, two international networks of independent law firms. JunHe and selected top law firms in major European and Asian jurisdictions are “best friends.” Through these connections, we provide high quality legal services to clients doing business throughout the world.