AllBright Client Wins Approval for Acquisition2014-05-052699
On March 20, AllBright’s client, Shanghai Kinetic Co., Ltd., won approval from the China Securities Regulatory Commission for its acquisition and fund-raising applications based on meeting certain preconditions.
Kinetic plans to purchase an 80% stake in Jiangsu IDEAL Medical Science & Technology Co., Ltd. through issuing additional shares and paying cash. KMC is currently the leading developer, manufacturer and distributor of orthopedic and spinal devices in China. Jiangsu IDEAL Medical Science & Technology Co., Ltd. is a specialized enterprise integrating development, production and marketing of Class III implant materials and artificial organs as well as Class II orthopedics (orthopedic discs) surgical instruments. Through this acquisition, Kinetic can expand its business scope into more specified niche markets and raise its status in the orthopedic medical instrument industry.
AllBright partner Xu Jun and associates Tom Li and Pei Zhenyu advised Kinetic throughout the acquisition procedure.