Ogier advises Pheton Holdings Ltd on Nasdaq Capital Market IPO

Ogier in Hong Kong acted as Cayman counsel to Pheton Holdings Ltd on its initial public offering on the Nasdaq Capital Market (Nasdaq).

Pheton Holdings Ltd (Pheton) is a China-based healthcare solution provider specialising in treatment planning systems for brachytherapy – a type of radiation therapy – and other related products and services.

Pheton's Class A ordinary shares began trading on Nasdaq on 5 September 2024 under the ticker symbol PTHL. 

The Ogier team included the firm's global head of Corporate Nathan Powell and managing associate Carmen Leung.

Nathan said: "It has been a successful year for China-based medical and pharma companies to get listed on the US Nasdaq and raise funds in the US equity market. Our corporate specialists in Hong Kong continue to provide quality service to clients across a variety of industries and sectors including medical and biotech.

"Our team providing Cayman advice to Pheton on their recent IPO and Nasdaq listing further solidifies Ogier's reputation as industry leaders in this field. We are delighted to have assisted our client on this successful transaction."

The Hong Kong team worked alongside US counsel Hunter Taubman Fischer & Li in respect of the IPO. In line with the Trial Adminstrative Measures of Overseas Securities Offering and Listing by Domestic Companies in China, Ogier worked with PRC counsel Jingtian & Gongcheng in assisting Pheton to complete the filing procedures with the China Securities Regulatory Commission. The Crone Law Group P.C. advised Cathay Securities Inc. as representative of the underwriters to the IPO.