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JunHe Assists Redco Healthy Living Company Limited in its Hong Kong IPO


On March 31, 2022, Redco Healthy Living Company Limited (02370.HK) (“Redco Healthy”) successfully completed its initial public offering on the Main Board of The Stock Exchange of Hong Kong. Redco Healthy issued 50,000,000 stocks at HK$ 4.10-5.10. The offering raised proceeds of approximately HK$ 205-255 million (assuming the overallotment option is not exercised).

Redco Healthy operates three business segments – property management, healthcare and elderly care, and information technology. Youju Meijia Group, one of its controlled subsidiaries, is a property management service provider focusing on services for residential and commercial properties in China. It holds a leading position in Jiangxi Province and a service network that covers multiple provinces in the Greater Bay Area, the Yangtze River Delta Region, the Bohai Rim Region and the Central Region of China. Youju Meijia Group has been recognized as one of the Top 100 Property Management Companies in terms of overall strength by China Index Academy from 2018 to 2021.

JunHe acted as the onshore legal counsel for the issuer. Working to a very tight deadline, JunHe drafted the legal memorandum regarding the restructuring scheme, conducted the overall legal due diligence investigation on the onshore entities, reviewed the relevant exchange filing and issue documents, issued legal opinions on the PRC laws, and helped address the concerns raised by the regulators of the listing exchange regarding various Chinese domestic legal issues. JunHe’s diligence, and its meticulous and high quality work was recognized by Redco Healthy and other intermediaries.

The JunHe team was led by Partner HU, Yijin, and this project was undertaken primarily by Partner HUANG, Wei and internally reviewed by Partner ZHOU, Fang.

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.