Place: Newsroom / Client Work / Detail
GLO advises Jin Medical (Nasdaq: ZJYL) on its initial public offering and listing on NASDAQ

Jin Medical International Limited (“Jin Medical”) (Nasdaq: ZJYL) announced the pricing of its initial public offering of 1,250,000 ordinary shares (“Ordinary Shares”), at a public offering price of US$8.50 per share on March 28, 2023.


If the underwriters exercise the option in full, the total underwriting discounts payable will be $916,406, and the total gross proceeds to Jin Medical, before expenses, will be $11,302,344. The Ordinary Shares began trading on the Nasdaq Global Market on March 28, 2023, under the ticker symbol “ZJYL”. Jin Medical has granted the underwriters an option, within 45 days from the closing date of the offering, to purchase up to 337,500 additional Ordinary Shares at the public offering price, less underwriting discounts, to cover over-allotment, if any.


Jin Medical is mainly engaged in the research and manufacturing of rehabilitation equipment, including walking aids, respiratory medical equipment, intelligent nano bathing equipment, as well as special bath products for the elderly and patients, fitness equipment for the elderly and special groups, disaster rescue products.


With the acceleration of the aging of the global population, wheelchairs are more used by the elderly, and this increase in demand has made the market scale of the wheelchair industry continue to expand. The core business of Jin Medical is wheelchair research and production, the founder and management team keep increasing the R&D expenses in recent years and have rich experience in this field. Jin Medical has become a leading participant in the industry, and its products have been exported all over the world. At present, Jin Medical is headquartered in Changzhou, and has branches in Changzhou and Taizhou.


Prime Number Capital, LLC acted as sole book-running managers for the offering. Global Law Office acted as the PRC counsel to the book-running managers, providing a full range of legal services. Our team was led by our Shenzhen-based partners Cheng Li, Carrie Sun, and the team members include Zhao Deng, Zhiyan Luo and Rongrong Zheng as well.