Forming a part of a cohesive and extensive Greater China offering that includes a strong presence in mainland China, the ‘professional and service-oriented’ Hong Kong team at Clifford Chance continues to pick up sponsor/underwriter or issuer side roles on many of the largest IPOs on the main board of the Hong Kong Stock Exchange. US and Hong Kong-qualified Fang Liu is pivotal to much of this work and combines deep local cultural and business sensitivities with an international mindset which is appreciated by clients within a variety of sectors including TMT, financial services and energy. As well as his work in relation to H share listings, Liu has also played a key part on the firm’s work on three out of the four market-first global depositary receipts (GDRs) listings on the SIX Swiss Exchange by China-listed issuers. In addition to her transactional expertise, Virginia Lee has deep regulatory knowledge (she is currently a serving member of the HKEC Listing Committee) which she effectively utilises on post listing compliance work, as well as in the furtherance of potential change within the Hong Kong capital market. Tim Wang heads up the overarching Greater China ECM offering.
Capital markets (equity) in Hong Kong
Clifford Chance
Practice head(s):
Tim Wang
Other key lawyers:
Virginia Lee; Fang Liu; Christine Xiu; Tommy Tam; Janet Fok; Queenie Tong
Testimonials
‘The team is professional and service oriented.’
‘The firm has rich experience in Hong Kong IPOs, covering both large and small projects.’
Key clients
Agricultural Bank of China
CALB Co., Ltd.
Gotion High Tech Co., Ltd.
Dingdang Health Technology Group
Jiangsu Eastern Shenghong Co., Ltd.
Qingdao AInnovation Technology Group Co. Ltd.
Shanghai Chicmax Cosmetic Co., Ltd.
Sunshine Insurance Group Limited
Zhejiang Leapmotor Technology Co., Ltd.
Zhihu Inc.
Work highlights
- Advised the joint sponsors and the joint global co-ordinators on Tianqi Lithium Corporation’s $1.7bn IPO and listing on the mainboard of the Hong Kong Stock Exchange.
- Advised Chinese EV maker Zhejiang Leapmotor Technology Co., Ltd. on its $807m IPO offering and listing on the mainboard of the Hong Kong Stock Exchange.
- Advised on three out of four market-first global depositary receipts (GDRs) listings on the SIX Swiss Exchange by China-listed issuers.
Davis Polk & Wardwell LLP
US powerhouse Davis Polk & Wardwell LLP continues to pick up a strong pipeline of work for Chinese issuers from a range of sectors including healthcare and TMT on their offshore IPOs, global offerings and follow-on offerings. Due to its US heritage and the presence of many US-qualified partners in Hong Kong, the team has historically been active advising Chinese companies list on the Nasdaq. Although this source of work was substantially impacted by geo-political tensions, in a rare US IPO the firm successfully advised Atour Lifestyle Holdings Limited on its $52m listing of American Depositary Shares (ADS’s) on the Nasdaq. Li He led on the aforementioned deal and is as comfortable handling US IPOs as he is handling listings on the HKEX. Other recommended partners include the vastly experienced James Lin and Yang Chu , who regularly handles IPOs, follow-on offerings and share placements in the biotech sector.
Practice head(s):
Yang Chu; Li He; Ran Li; James Lin; Steve Wang
Other key lawyers:
Kevin Zhang; Jennifer Ng
Key clients
ZJLD Group
MedSci Healthcare
Beisen Holding Limited
Kingsoft Cloud
Atour Lifestyle Holdings
InnoCare Pharmaceuticals
Interra Acquisition Corporation
Tencent Music Entertainment
Biocytogen Pharmaceuticals
Tuya Inc.
CStone Pharmaceuticals
iQiyi
Akeso, Inc.
New Horizon Healthcare
Work highlights
- Advising ZJLD Group on its HK$5.3bn IPO and listing on the Hong Kong Stock Exchange.
- Advising Atour Lifestyle Holdings on its $52m IPO of ADSs and Nasdaq listing.
- Advising the sales agents in connection with the SEC-registered at-the-market offering program by Li Auto Inc. under which Li Auto may issue and sell its American depositary shares (ADSs) for up to an aggregate amount of $2bn. This is the first at-the-market offering by a US-listed issuer with a dual primary listing in Hong Kong.
Kirkland & Ellis
With a strong team of New York and locally-qualified practitioners based in Hong Kong and also able to leverage significant resources on the mainland, Kirkland & Ellis is a popular choice among issuers and underwriters on Hong Kong listings and follow-on offerings, as well as US IPOs and Rule 144A and Regulation S offerings. SPAC-related work is a strength for the firm and in spite of economic headwinds dampening investor demand, the firm advised Vision Deal HK Acquisition Corp on one of the earliest and relatively rare SPAC IPOs following the liberalisation of the market. Team head David Zhang had a key role on this matter and has also been active handling a number of de-SPAC mandates. Mengyu Lu, who has also been active handing SPAC transactions as well as efforts to fashion a regulatory framework in Hong Kong for the listings of SPACs and potential de-SPAC transactions, has a booming Hong Kong IPO practice, helping many Chinese companies, including within new economy sectors, to list.
Practice head(s):
David Zhang
Other key lawyers:
Mengyu Lu; Samantha Peng
Key clients
L Catterton Asia Acquisition Corp.
UBS AG Hong Kong Branch, Morgan Stanley Asia Limited and China International Capital Corporation
Asia Innovations Group Ltd.
POEMA Global Holdings Corp.
TH International Ltd.
Artisan Acquisition Corp.
Wynn Macau, Limited
Hypebeast Ltd.
Yunkang Group Limited
Vision Deal HK Acquisition Corp.
Clover Biopharmaceuticals, Ltd.
China International Capital Corporation Hong Kong Securities Limited and China Securities (International) and Corporate Finance Company Limited
Alphamab Oncology
Noah Holdings Limited
Citigroup Global Markets Asia Limited and China International Capital Corporation Hong Kong Securities Limited
Joy Spreader Group Inc.
Super Hi International Holding Ltd.
Work highlights
- Advised TH International Limited (Tims China), the master franchisee and operator of Tim Hortons coffee shops in China, on its business combination with Silver Crest Acquisition Corporation, a publicly-traded SPAC.
- Advised Yunkang Group, a leading medical operation service provider in China that offers a full suite of diagnostic testing services for medical institutions, on its approximately $140m global offering and listing on The Stock Exchange of Hong Kong Limited.
- Advised SPAC, Vision Deal HK Acquisition Corp, on its listing of shares and warrants on the Hong Kong Stock Exchange. This marks the second Hong Kong SPAC listing, the first Hong Kong SPAC listing led by promoters with substantial entrepreneurial and private equity background, and the largest Hong Kong SPAC listing by offering size at the time of listing
Latham & Watkins LLP
Acting on its own as well as frequently in collaboration with lawyers on the mainland, Latham & Watkins LLP handles a significant volume of IPOs and follow on offerings for underwriters and issuers, both in Hong Kong and the US. Although the firm’s versatile practice is comfortable handing transactions across a wide range of industry sectors, under the guidance of Cathy Yeung it has, in recent years, been particularly active handling issuances in the TMT, life sciences and new economy sectors. As well as transactional work the team has been involved in a consultative role on the development of the SPAC regime and pre-revenue biotech companies, and has continued to assist regulators in applying the nascent listing regimes. Benjamin Su is central to much of the firm’s work in the TMT space and has developed excellent ties with both Chinese issuers and international underwriters.
Practice head(s):
Cathy Yeung
Other key lawyers:
Benjamin Su; Terris Tang; Allen Wang; Mandy Wong; Daying Zhang; Zheng Wang; Wei Wei; Eric Yiu
Key clients
Kuaishou Technology
Tianqi Lithium Corporation
China Suntien Green Energy Corporation
GigaCloud Technology Inc.
China Jinmao Holdings Group Limited
China International Capital Corporation Hong Kong Securities Limited
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Morgan Stanley
SJM Holdings Limited
Linklaters
The ‘very committed’ team at Linklaters provides a ‘high level work performance’ across a range of other high-profile equity work, often involving challenging regulatory hurdles. The firm’s strength on the regulatory side has in recent years been exemplified by its involvement in the establishment of several major capital markets infrastructure developments, including the setting up of ETF Connect and Swap Connect. The close ties with the Hong Kong capital markets regulator that the firm has established, including in-house regulatory secondment experiences, are also beneficial in establishing a close dialogue on complex transactions. As well as helping issuers secure large follow on/rights issuances on the HKEX, the firm has also been very active helping Chinese issuers access international investment through overseas GDR listings on Stock Connect. Lipton Li, who is ‘very hands on, professional and knowledgeable’, has been pivotal to the firm’s success for Chinese issuers on international matters and has handled GDR listings on the SIX Swiss Exchange via the China-Switzerland Stock Connect, as well as the very first GDR listing on the Shanghai-London Stock Connect segment of the Main market. Donnelly Chan co-heads the team alongside Li and is appreciated by clients for his ECM versatility which includes advice on SPAC listings, H-shares listings and spin-off listings, as well as an increasing volume of work for Chinese property developers raising capital in Hong Kong’s secondary equity capital markets. The arrival in August 2023 of Roger Cheng bolsters the firm’s public M&A capability, in particular, in light of his experience gleaned from his previous role as head of the takeovers team at the SFC.
Practice head(s):
Lipton Li; Donnelly Chan
Other key lawyers:
Christopher Yip; Roger Cheng
Testimonials
‘The team is very committed and provides high-level work performance.’
‘Lipton Li is very hands on, professional and knowledgeable.’
Key clients
China Tourism Group Duty Free Corporation Ltd
FWD Group Holdings Limited
CIFI Holdings (Group) Co Ltd
Mingyang Smart Energy Group Limited
Ningbo Shanshan Co. Ltd.
Sunwoda Electronic Co., Ltd.
Joincare Pharmaceutical Group Industry Co., Ltd.
Zhejiang Supcon Technology Co., Ltd.
Work highlights
- Advised CTG Duty-Free, the world’s largest travel retailer, on the $2.1bn global offering and listing of its H shares on the main board of the Hong Kong Stock Exchange.
- Advised the placing agents on the HK$11.802bn top-up placing of HK-listed ANTA Sports.
- Advised on 13 successful GDR listings of Chinese companies on the SIX Swiss Exchange via the China-Switzerland Stock Connect.
Simpson Thacher & Bartlett LLP
Drawing upon the expertise of many accomplished US and Hong Kong-qualified practitioners, Simpson Thacher & Bartlett LLP is a popular choice for Chinese issuers and underwriting banks listing on both the HKEX and US exchanges. Notably, the team has recently been involved in several high-profile secondary listings, including for the joint sponsors of NIO on its Hong Kong listing by way of introduction. Daniel Fertig was involved in the aforementioned deal, one of many secondary listings he has handled in recent years, tracing a pedigree which stretches back to his involvement on the first home coming listing. Christopher Wong worked with Fertig on the NIO deal and continues to be the driving force of the firm’s Hong Kong IPO practice, acting on listings encompassing a broad range of industries, including electric vehicles, consumer, TMT and healthcare. Hong Kong and English-qualified partner Marjory Ding is also recommended.
Practice head(s):
Christopher Wong; Daniel Fertig; Yi Gao; Marjory Ding
Key clients
51job, Inc.
Alibaba Group Holding Limited
Baozun Inc.
BEST Inc.
Cango Inc.
Canaan Inc.
Cheerwin Group Ltd.
Chervon Holdings Limited
China Logistics Property Holdings Co., Ltd
Crystal International Group
Full Truck Alliance Co. Ltd.
Ganfeng Lithium Co., Ltd.
GDS Holdings Limited
GreenTree Hospitality Group Limited
Homeland Interactive Technology Ltd.
Hon Hai Precision Industry Co., Ltd.
Honma Golf Limited
Hope Education Group Co., Ltd.
Inke Limited
JNBY Design Limited
Logory Logistics Technology Co., Ltd.
Medlive Technology Co., Ltd.
Mulsanne Group
Natural Food International Holdings
Ozner Water International Holding Limited
Phoenix New Media
Phoenix Tree Holdings Limited
Qudian Inc.
Qutoutiao Inc.
Regina Miracle International (Holdings) Limited
Ruhnn Holding Limited
Shenzhen Pagoda Industrial (Group) Corporation Ltd.
United Microelectronics Corporation
XPeng Inc.
Yalla Group Limited
Yingli Green Energy Holding Company Limited
Zhongliang Holdings Group Company Limited
Zhenro Properties Corporation
Zhou Hei Ya International Holdings Company Limited
AMTD Global Markets Limited
Bank of American Merrill Lynch
Bank of China International
CCB International
China Merchants Securities
CICC
Citigroup
CLSA
Credit Suisse
Goldman Sachs
Guggenheim Securities, LLC
Haitong Securities
HSBC
Huatai Securities (USA)
J.P. Morgan
Jefferies LLC
Macquarie Capital
Morgan Stanley
SVB Leerink LLC
UBS
Work highlights
- Advised underwriters in HK$6.27bn IPO and Rule 144A and Regulation S offering by Zhejiang Leapmotor Technology Co., Ltd. on the Main Board of The Stock Exchange of Hong Kong.
- Advised Shenzhen Pagoda Industrial (Group) Corporation Ltd. in the HK$442m IPO and Rule 144A and Regulation S offering on the Main Board of the Hong Kong Stock Exchange.
- Advised underwriters in the Hong Kong dual primary listing of Kingsoft Cloud Holdings Limited by way of introduction on the Main Board of The Stock Exchange of Hong Kong.
Skadden, Arps, Slate, Meagher & Flom LLP
Leveraging the firm’s strong institutional corporate client base, the ‘highly technical, client focused and professional’ team at Skadden, Arps, Slate, Meagher & Flom LLP continues to excel in advising a Chinese issuer-focused client base across a wide range of ECM work. The firm remains a go-to practice for helping Chinese corporates access capital in the US, where its ability ‘to come up with innovative and flexible solutions for clients’ has been invaluable in difficult market conditions, enabling it to adapt to its traditional IPO strength and help clients access capital through alternative means including large-value deSPAC transactions and innovative reverse takeovers and backdoor listings. The team also continues to excel at handling Hong Kong IPOs, including helping US-listed Chinese companies in relation to homecoming listings. Shu Du‘s versatile practice includes expertise across the spectrum of US, Hong Kong and home coming listings, and alongside the ‘client-oriented, and commercial’ Paloma Wang is in the engine room of the firm’s prolific practice. Yilin Xu continues to impress advising across both US and Hong Kong IPOs and was promoted to partner in April 2023 in recognition of his efforts. At counsel level, Anthony Pang and Martina To ‘are very professional and responsive’, while the ‘experienced and hands-on’ Lillian Lian, who joined in September 2022 from Davis Polk & Wardwell LLP, is appreciated for her ability to handle ‘the most critical issues’ for clients. Wang co-heads the team alongside Jonathon Stone, whose corporate expertise is utilised to good effect on some ECM work, including in the context of deSPAC transactions.
Practice head(s):
Paloma Wang; Jonathan Stone
Other key lawyers:
Shu Du; Yuting Wu; Kai Sun; Yilin Xu; Anthony Pang; Martina To; Lillian Lian
Testimonials
‘They are very knowledgeable technically, while being able to come up with innovative and flexible solutions for clients.’
‘The lawyers are highly technical, client focused and professional.’
‘Paloma Wang is very innovative, professional, client-oriented, and commercial.’
Key clients
Lotus Technology
ECARX Holdings, Inc.
Li Auto Inc.
Prenetics Group Limited
Bridgetown 2 Holdings Limited
Bilibili Inc.
Bridgetown Holdings Limited
Gravitas Education
Hesai Group
Zhihu Inc.
AMTD Digital Inc.
DPC Dash Inc. (Domino’s Pizza)
NIO, Inc.
KE Holdings Inc.
Kanzhun Limited
Lufax Holding
NaaS Technology Inc.
360 DigiTech, Inc.
MINISO Group Holding Limited
ClouDr Group Limited
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Cantor Fitzgerald & Co.
U.S.-listed Chinese SOEs
Work highlights
- Advised ECARX Holdings, Inc. (a Geely-backed mobility tech company) in its $3.8bn merger with COVA Acquisition Corp.
- Advised Hesai Group, the global leader in three-dimensional light detection and ranging (LiDAR) solutions, in its $190m IPO of American depositary shares (ADSs) and listing on Nasdaq.
- Advised Li Auto Inc. in a $2bn at-the-market offering of American Depositary Shares.
A&O Shearman
Drawing upon its excellent relationships with many bulge bracket banks, A&O Shearman is best-known for its underwriter/arranger work facilitating a range of ECM work for Chinese issuers including IPOs, listings, and follow-ons such as rights issues and block trades. As well as handling Hong Kong-related work, including a considerable amount of work within the biotech space (under Chapter 18A rules), the firm has been very successful in securing both issuer and underwriter mandates on international issuances facilitated by the China-Switzerland stock connect program which opened up in July 2022. Jonathan Hsui has been pivotal to this success and has handled a raft of GDR offerings on the SIX Swiss Exchange, work which he combines with a vibrant HKEX practice. Lina Lee is also central to the team’s success on the transactional side, as well as handling regulatory compliance-related work for several major listed companies across different industries. The team was also strengthened at the beginning of 2023 by the arrival of Gilbert Li and Iris Yeung from Linklaters, both of whom add core ECM expertise, as well as on public M&A.
Practice head(s):
Lina Lee
Other key lawyers:
Jonathan Hsui; Gilbert Li; Iris Yeung; Kung-Wei Liu
Key clients
Shandong Boan Biotechnology Co., Ltd
Huatai Financial Holdings (Hong Kong) Limited
Zhejiang HangKe Technology Incorporated Company
The Norinchukin Bank
Nomura International (Hong Kong) Limited
Zhejiang Sanhua Intelligent Controls Co., Ltd
Tianneng Battery Group
Luye Pharma
CITIC Securities (CLSA)
Haitong International Securities
Work highlights
- Advised Shandong Boan Biotechnology Co., Ltd. (Boan Biotech) on the spin-off from Luye Pharma Group and a separate listing of the H Shares of Boan Biotech on the Main Board of the Hong Kong Stock Exchange.
- Advised the sole global co-ordinator and sole bookrunner Huatai Financial Holdings (Hong Kong) Limited on Hangzhou Great Star Industrial Co. Ltd.’s global depositary receipts (GDR) offering and listing on the SIX Swiss Exchange.
- Advised Zhejiang HangKe Technology Incorporated Company on its GDR offering and listing on the SIX Swiss Exchange.
Herbert Smith Freehills
The ‘rigorous’ team at Herbert Smith Freehills provides a ‘customer-centric and solutions-oriented approach’ to investment banks, international corporations, Chinese state-owned enterprises (SOEs) and government- owned entities across a broad swathe of capital market linked products. Under the expert leadership of Matt Emsley, the team has particularly strong visibility within the biotech/healthcare and TMT sectors, and continues to pick up a significant volume of 18A listings. Praised for his ‘extremely keen insight and deep understanding of business’, Jeremy Shen excels in handling IPOs and follow-on offerings and is able to ‘provide constructive and far-sighted opinions’.
Practice head(s):
Matt Emsley
Other key lawyers:
Jason Sung; Stanley Xie; Jeremy Shen; Jin Kong; Ariel Lin; Maisie Ko; Kris Cheung; Jaime Fong
Testimonials
‘The rigorous team has a customer-centric and solutions-oriented approach.’
‘Matt Emsley proactively participates in all major discussion and shares valuable experience and insights.’
‘Jeremy Shen has extremely keen insight and deep understanding of business, and can often give constructive and far-sighted opinions.’
Key clients
China International Capital Corporation
CITIC Securities
Citigroup
Goldman Sachs
UBS
Morgan Stanley
J.P. Morgan
SPDB International Capital Limited
Huatai Financial Holdings (Hong Kong) Limited
CMB International Capital Limited
Work highlights
- Advised CITIC Securities, Citigroup and Goldman Sachs as joint sponsors of Onewo Inc.’s listing on the Main Board of the Hong Kong Stock Exchange.
- Advised CICC and CMB International as joint sponsors and underwriters of Lygend Resources & Technology Co.’s mainboard listing on the Stock Exchange of Hong Kong.
- Advised the placing agents and joint global co-ordinators in the placing of H Shares by Zhongyuan Bank Co.
King & Wood Mallesons
With significant resources in Hong Kong and on the mainland, including lawyers qualified in US, UK, PRC and Hong Kong law, King & Wood Mallesons has excellent credentials among Chinese issuers and international underwriters/sponsors on global offerings and listings on the HKEX. John Baptist Chan is one of the pivotal members of the team, regularly advising on HKEX IPOs and secondary offerings involving Chinese companies from a range of sectors. Fluent in Mandarin and Cantonese, Anthony Wan is noted for his ability to provide ‘practical and professional advice’ to Chinese sponsors and issuers across a range of ECM mandates, including IPOs and REITs. Other recommended practitioners include New York-qualified Corey Zhang , who as well as handling domestic work is also adept at advising on offerings of GDRs and ADRs, and team head Candy Chan, whose varied workflow includes advice to state-owned enterprises and red-chip companies on Hong Kong offerings and compliance work for listed companies.
Practice head(s):
Candy Chan
Other key lawyers:
John Baptist Chan; Anthony Wan; Corey Zhang; Sheldon Tse; Gary Lock; Yu Wang
Testimonials
‘The team provides professional and quality services and delivers prompt responses to the clients’ enquiries.’
‘Anthony Wan has extensive experience in the capital markets, ranging from Hong Kong IPOs, REITs to various ECM transactions and is adept at providing practical and professional advice on issues throughout the transactions.’
Key clients
Fangda Carbon New Material Co., Ltd.
XICE International Hong Kong Company Limited
Buyang International Holding Inc
Guotai Junan Capital Limited
Giraffe Capital Limited
BOCOM International (Asia) Limited
Soochow Securities International Capital Limited
Grand Moore Capital Limited
Haitong International Securities Company Limited
Besunyen Holdings Company Limited
Shenzhen Special Economic Zone Construction and Development Group Co., Ltd.
New Surplus International Investment Limited
Xiamen C&D Inc.
Link Real Estate Investment Trust
SAIC Motor Corporation Ltd
Sino United Publishing (Holdings) Limited
China Partner (Shanghai) Equity Investment Fund Management Co., Ltd.
Work highlights
- Advised Fangda Carbon New Material Co., Ltd. as US and English law counsel on its offering and listing of 22 million global depository receipts on the SIX Swiss Exchange.
- Advised XICE International Hong Kong Company Limited, a Hong Kong-incorporated subsidiary of Xian XICE Testing Technology Co., Ltd., in relation to the RMB 808,817,700 (approximately USD117 million) listing of Xian XICE Testing Technology Co., Ltd. on the Shenzhen Stock Exchange.
- Advised Buyang International Holding Inc on its global offering and listing on the Main Board of The Stock Exchange of Hong Kong.
Norton Rose Fulbright
Highly attuned to market developments and benefiting from good relationships with the regulators, Norton Rose Fulbright is a popular choice advising across a broad range of ECM and related matters, including listings and follow on offerings, pre-IPO investments, spin-offs, public M&A and ongoing compliance. Under the steady leadership of the vastly experienced Psyche Tai , the team has developed particular strength advising issuers and underwriters on mid-market HKEX IPOs, including within the TMT sector. Counsel Aldo Chan also provides valuable assistance on HKEX IPOs, with Chinese issuers also benefitting not only from his strong legal credentials but also Cantonese and Mandarin language skills. Harold Tin oversees the firm’s US securities practice in Asia which was recently strengthened by the arrival in August 2023 of Ethan Chen from Kirkland & Ellis. Terence Lau left the firm in February 2023.
Practice head(s):
Psyche Tai
Other key lawyers:
Doris Ng; Harold Tin; Aldo Chan; Ethan Chen
Key clients
BNP Paribas Securities (Asia) Limited
China International Capital Corporation (CICC)
China Securities (International) Corporate Finance Company Limited
China Taiping Insurance Holdings Company Limited
China Water Affairs Group Limited
CLSA Capital Markets Limited
Dowell Service Group Co Limited
Haitong International Capital Limited
HSBC
Powerwin Tech Group Limited
Work highlights
- Advised Haitong International Capital, the sole sponsor, on the listing of H shares of Logory Logistics Technology on the Main Board of the Hong Kong Stock Exchange and the global offering.
- Advised Powerwin Tech Group on its listing on the Main Board of the Hong Kong Stock Exchange and global offering.
- Advised China Taiping Insurance Holdings Company on the offering and listing of $2bn perpetual subordinated capital securities on The Stock Exchange of Hong Kong.
Slaughter and May
The ‘detailed and meticulous’ team at Slaughter and May provides ‘high-quality, responsive and succinct advice’ to issuers and sponsors seeking Hong Kong, US and English law advice across a range of capital markets transactions in Hong Kong. Benita Yu ‘can offer unparalleled insight into most complex and tricky issues’ and is one of several lawyers in the team which have excellent underlying regulatory prowess as a result of either current regulatory ties (as is the case with Yu, who is a current member of the Listing Review Committee of the HKEX and Deputy Chairman of the Takeovers and Mergers Panel) or previously held in-house regulatory positions. John Moore, who is ‘very helpful and hands on’, co-heads the team alongside Yu, and ‘provides valuable advice to the sponsors based on his knowledge and experience’.
Practice head(s):
Benita Yu; John Moore
Other key lawyers:
Peter Brien; Clara Choi; Justin Chan; Vincent Chan; Jianhao Zheng; Edward Lau
Testimonials
‘They provide high-quality, responsive and succinct advice.’
‘They are detailed and meticulous, tending to be quite technical but still commercial.’
‘John Moore is very helpful and hands-on. He provides valuable advice to the sponsors based on his knowledge and experience.’
Key clients
Alibaba Group Holding Limited
Asia Securities Industry and Financial Markets Association
BVCF Management Ltd.
China International Capital Corporation Hong Kong Securities Limited
China International Capital Corporation (UK) Limited
China Power International Development Limited
Chongqing Zhubajie Network Co., Ltd.
CMB International Capital Limited
Credit Suisse (Hong Kong) Limited
Dekon Food and Agriculture Group
Goldman Sachs (Asia) L.L.C.
Haitong International Securities Group
HSBC Corporate Finance (Hong Kong) Limited
J.P. Morgan Securities (Far East) Limited
J.P. Morgan Securities (Asia Pacific) Limited
Kunshan Dongwei Technology Co., Ltd.
Morgan Stanley Asia Limited
Tencent Holdings Limited
Work highlights
- Lead counsel to the joint sponsors, CICC, Haitong and HSBC, as well as the joint global co-ordinators, the joint bookrunners and the underwriters as to Hong Kong and US law on the HK$6.64bn global offering and listing of SenseTime Group on the Main Board of the Hong Kong Stock Exchange.
- Advising on the proposed IPO of Cirrus Aircraft.
- Advising on the global offering and listing of GDRs of Eyebright Medical on the SIX Swiss Exchange through China-Swiss Connect.
Ashurst
Ashurst advises a varied mix of issuers, underwriters and sponsors across the life-cycle of ECM matters, including on IPOs, general compliance matters, spin-off listings, secondary offerings, block trades and buy backs. Although the firm is industry agnostic, it has been particularly active in recent years in relation to ECM transactions in the pharmaceutical, biotech and digital economy sectors, all of which have experienced an uptick of issuances as a result of regulatory changes. ‘The very responsive and hardworking’ Frank Bi has particularly strong traction with Chinese issuers, including SOEs, which are appreciative not only of his legal skills but also his language capabilities. The team is also able to link up with international colleagues spread throughout the firm’s vast network on cross-border issues, while Melody He and the ‘outstanding’ Li Jiang leverage their US qualifications to good effect on behalf of Asian entities listing in the US. Bi co-heads the firm’s overarching Asia corporate offering with Joshua Cole.
Practice head(s):
Frank Bi; Joshua Cole
Other key lawyers:
Melody He; Li Jiang
Testimonials
‘The team has extensive experience in Hong Kong ECM projects. They are very familiar with the development of relevant industries and regulatory trends, and can customise targeted legal solutions based on comprehensive regulatory requirements and clients’ business needs.’
‘The very responsive and hardworking Frank Bi provides effective solutions which are tailored to the client’s specific needs.’
‘Li Jiang is one of the few Hong Kong/New York lawyers who is familiar with Hong Kong listing rules and US securities laws. His broad knowledge and comprehensive experience are of great help in Hong Kong’s international capital market issuance projects.’
Key clients
CLSA
UBS Securities Hong Kong Limited
Zhongtai International Capital Limited
Rego Interactive Co., Ltd.
Kintor Pharmaceutical Limited and KT International Investment Limited
Huatai Financial Holdings (Hong Kong) Limited
CCB International Overseas Limited
New Vision Capital Partners Limited
UBTech Robotics Corp Ltd
Migao Group Holdings Limited
Li Song Foundation Company Limited
Work highlights
- Advised UBS Securities Hong Kong Limited, Essence Corporate Finance (Hong Kong) Limited as joint sponsors and underwriters on the HK$212m Hong Kong IPO of Shandong Boan Biotechnology Co., Ltd. and its spinoff listing on the Hong Kong Stock Exchange from Luye Pharma Group Ltd.
- Advised Zhongtai International Capital Limited as sole sponsor and the underwriters on the HK$314m Hong Kong IPO and Regulation S offering of Many Idea Cloud Holdings Limited, an integrated marketing and SaaS services company in China.
- Advised Rego Interactive Co., Ltd on its HK$100.7m IPO and listing of shares on the Main Board of The Stock Exchange of Hong Kong.
Baker McKenzie
Praised for its ability to ‘suggest creative solutions to solve problems rather than erect roadblocks’, Baker McKenzie is a popular choice among Chinese issuers and international banks across a range of Hong Kong-related capital markets transactions, including IPOs, spin-offs and takeovers of listed companies. In this context, as well as being able to resource matters utilising capital markets mandates with domestic, US and PRC qualifications, the firm is also able to leverage the expertise of lawyers within complementary practice areas, such as tax, employment and M&A lawyers. Team head Christina Lee provides ‘very efficient and professional’ advice across a range of Hong Kong transactional and regulatory compliance matters, as well as on international issuances, including a number of Swiss GDR transactions following reforms to the China-Switzerland Stock Connect rules in 2022. Hong Kong, English and New York qualified partner Ivy Wong is also recommended and is appreciated for her ‘good communication and analytical skills’.
Practice head(s):
Christina Lee
Other key lawyers:
Sheng Chen; Victoria Lloyd; Thomas Tarala; Ivy Wong; Brian Wong; William Cho; Bonnie Lau
Testimonials
‘The team’s lawyers are able to suggest creative solutions to solve problems rather than erect roadblocks.’
‘They are very active in the Hong Kong capital market and have accumulated a lot of project experience in capital operation projects, which is very valuable to our company.’
‘Christina Lee provided very efficient and professional legal consultation and other related services in the process of serving our company.’
Key clients
3SBio Inc.
Alpha Luck Industrial Limited and AKM Meadville Electronics (Xiamen) Co., Ltd.
AVIC International Holding Corporation
BC Technology Group Limited
BOCOM International Holdings Limited
Boston Scientific Group plc
China Eastern Airlines Corporation Limited
China International Capital Corporation
China Merchants Hoi Tung Trading Company Limited
China Pacific Insurance Group Co., Ltd.
China Railway Construction Corporation Limited
China United Lines Ltd.
Citigroup
CLSA Limited
CMB International Capital Limited
CRRC Corporation Limited
Far East Horizon Limited
Ferretti S.p.A.
GEM Co., Ltd.
Gotion High-tech Co.
Horizon Construction Development Limited
Jin Jiang International Holding Company
Tomson Group Limited
Link REIT
Orient Capital (Hong Kong) Limited
SF Real Estate Investment Trust (REIT)
Shui On Land Limited
SK Holdings Co., Ltd.
Yangzhou Yangjie Electronic Technology Co., Ltd.
Yuexiu Group (including Chong Hing Bank Limited)
Work highlights
- Acted as Hong Kong and US counsel to the underwriters in OrbusNeich Medical Group Holdings’ Hong Kong IPO and global offering of shares.
- Advised Horizon Construction Development Limited on its spin-off from Far East Horizon and its separate listing on the Hong Kong Stock Exchange.
- Advised Gotion High-Tech Co., on one of the first successful global depositary receipt offerings and listings on the SIX Swiss Exchange through the China-Switzerland Stock Connect after the China Securities Regulatory Commission reformed the Stock Connect scheme and the Swiss regulators finalized the revised listing rules.
Deacons
The ‘highly responsive and experienced’ team at Deacons has strong traction among issuers and sponsors/underwriters engaged in HKEX ECM work both from a transactional and regulatory perspective. As well as regularly handling secondary offerings and private placements, the team is often instructed on HKEX IPOs, where its significant deal flow over the years ensures that it is ‘familiarised with past market deals to be adopted as precedent case arguments to regulators’ on transactions involving novel/difficult structuring aspects. Team head Ronny Chow is the driving force behind the vibrant IPO practice, including on H shares and for Hong Kong issuers. Maynard Leung is also recommended and regularly advises underwriters/sponsors on global offerings and listings on the HKSE.
Practice head(s):
Ronny Chow
Other key lawyers:
Rhoda Yung; Sabrina Fung; Canny Lau; Samantha Chau; Maynard Leung
Testimonials
‘The team is familiarised with past market deals to be adopted as precedent case arguments to regulators.’
‘They are highly responsive and experienced, and willing to help to study/research novel issues, if need be.’
Key clients
BOCOM International (Asia) Limited
CCB International Capital Limited
China Industrial Securities International Capital Limited
China International Capital Corporation Hong Kong Securities Limited
CITIC Securities (Hong Kong) Limited
CLSA Limited
CMB International Capital Limited
CMBC Securities Company Limited
DBS Asia Capital Limited
Guotai Junan Capital Limited
ICBC International Capital Limited
Ping An of China Capital (Hong Kong) Company Limited
Shenwan Hongyuan Capital (H.K.) Limited
Work highlights
- Advised the sole sponsor Shenwan Hongyuan Capita and underwriters in relation to the HK$600m Hong Kong IPO of Flowing Cloud Technology Ltd.
- Advised the sole sponsor BOCOM International (Asia) Limited and underwriters in relation to the Hong Kong H-share HK$321m IPO of Huzhou Gas Co., Ltd.
- Advised Bossini on its rights issue to raise up to approximately HK$465m for supporting its expansion plan and re-branding.
Fangda Partners
Fangda Partners is particularly effective at advising PRC issuers across a range of core ECM work, as well as in the context of public M&A. In this context, the firm is able to draw from a strong grounding in regulatory issues ensuring that complex transactional work is effectively handled, and also that listed clients are able to receive ongoing compliance work on an ad-hoc basis. Team head Colin Law is the driving force behind the firm’s IPO practice and is particularly adept at handling listings within the biotech space.
Practice head(s):
Colin Law
Other key lawyers:
Peter Chen; Arnold Pang; Edward Bong; Christina Fu; Arman Lie; Kitty Chan; Geoffrey Cheung; Jonathan Wallenberger
Key clients
Apollo Future Mobility Group
Profit Win R&D Tech Holdings Limited
WuXi Biologics (Cayman) Inc., WuXi Biologics Holdings Limited
Jinxin Fertility Group Limited
CPE Advisors (Hong Kong) Limited
Chaoju Eye Care Holdings Limited
Apollo Future Mobility Group Ltd
Hogan Lovells
The ‘technically strong and efficient’ team at Hogan Lovells provides ‘solutions-oriented advice’ for issuers and underwriters on IPOs, rights issues and block trades and provides a ‘good balance between commercial considerations and risk control’. Drawing upon ‘rich experience’ gleaned through private practice and through his time in-house at a large international bank, the ‘resilient and hands-on’ Nelson Tang is well regarded by issuers and underwriters for his ability ‘to deal with challenging situations and interesting dynamics’ in ECM transactions, public takeovers and regulatory compliance matters. Sammy Li also had prior experience in-house at a major investment bank, and is appreciated for his deep regulatory knowledge, ensuring that he is able ‘to pre-empt potential issues at the IPO preparation stage’. Stephanie Tang co-heads the team alongside Li and Nelson Tang, and spearheads the firms US securities offering from Hong Kong.
Practice head(s):
Sammy Li; Nelson Tang; Stephanie Tang
Other key lawyers:
Samson Suen; Jeffrey Lee; Tiffany Lam; Angel Shi; Joyce Leung; Jenny Yu; Iris Cheung; Stephanie Kwan
Testimonials
‘The technically strong and efficient team provides solutions-oriented advice that provides a good balance between commercial considerations and risk control.’
‘They are experienced and knowledgeable.’
‘The team has outstanding business capabilities, many years of practical experience in the Hong Kong capital market and can solve problems for customers in a timely manner.’
‘They are able to provide sophisticated and solutions-oriented advice, rooted in a profound experience of dealing with HKEX and SFC enquiries.’
‘The resilient and hands-on Nelson Tang is able to deal with challenging situations and interesting dynamics.’
‘Nelson Tang has extraordinary enthusiasm for work, outstanding personal ability and rich experience. He can actively analyse the situation and provide solutions for clients, and the quality of services he provides often exceeds client expectations.’
‘Sammy Li is excellent in addressing the key issues raised by regulatory authorities and is able to pre-empt potential issues at the IPO preparation stage.’
Key clients
BNP Paribas Securities (Asia) Limited
China International Capital Corporation Hong Kong Securities Limited
Jutal Offshore Oil Services Limited
Midea Real Estate Holding Limited
Renrui Human Resources Technology Holdings Limited
UBS
JY Gas Limited
Pacific Century Premium Developments Limited
Central China Management Company Limited
Fineland Real Estate Services Group Limited
WestPark Capital, Inc.
Orientiert
Work highlights
- Advised the sole sponsor, BNP Paribas Securities (Asia) Limited, and the underwriters, in the HK$400m IPO of Sinohealth Holdings Limited on the Main Board of the Hong Kong Stock Exchange.
- Advised Midea Real Estate Holding Limited on its $81m acquisition of equity interests in a property development company.
- Advised UBS, the placing agent, on the $205m top-up placement of China Education Group Holdings Limited.
Morgan, Lewis & Bockius
Morgan, Lewis & Bockius has established a strong company-side reputation, in particular, on transactions throughout the life-cycle of ECM mandates, from initial listings, through to post-IPO matters and advice across a range of work for the subsequently listed companies. Team head Edwin Luk has been pivotal to the firm’s success building out from its initial flurry of IPO mandates within the education space, to include instructions across a wide range of industry sectors, including industrials and technology.
Practice head(s):
Edwin Luk
Other key lawyers:
June Chan; Keith Cheung; Billy Wong
Key clients
Sanergy Group Limited
China Everbright Capital Limited
CMMB Vision Holdings Limited
BetterLife Holding Limited
Kinetic Development Group Limited
Zhongtai International Capital Limited
LHN Limited
Work highlights
- Advised ANTA Sports Products, in its $1.5bn placing of existing shares and top-up subscription of new shares under general mandate.
- Represented BetterLife Holding Limited in the $80m acquisition of YZB Auto Services Group Limited.
- Represented Zhongtai International Capital Limited, as the financial advisor to International Alliance Financial Leasing Co. (recently renamed as Alliance International Education Leasing Holdings Limited), on its $81m acquisition of Yantai Nanshan University.
Morrison Foerster
Morrison Foerster provides a ‘responsive service’ to Chinese corporates and banks engaged in HKEX IPOs, as well as on the issuer side advising on subsequent post listing compliance. A corollary of the firm’s broader TMT strength, the team receives a strong pipeline of work for start-ups and scale-ups in the sector seeking exits via IPO. The ‘attentive and commercial’ Vivian Yiu has been instrumental to the firm’s success on the TMT front and also has strong knowledge of the new rules being adopted with regard to specialist technology companies, having been involved in the consultation process regarding the formulation of Chapter 18C. Notably, Yiu was also involved at the vanguard of the development of the SPAC regulations and has subsequently handled several completed/proposed listings following the adoption of the new listing framework for SPACs in January 2022. ‘Business-savvy’ senior associate Diana Tan is also recommended.
Practice head(s):
Vivian Yiu
Other key lawyers:
Stephen Birkett; Diana Tan; Francis Wong; Ellie Xu; Tracy Ho
Testimonials
‘The team provides a responsive service.’
‘Vivian Yiu is attentive and commercial, and provides appropriate help.’
‘Diana Tan is business-savvy and responsive.’
Key clients
OrbusNeich Medical Group Holdings Limited
Zhubajie Co., Ltd.
Kindstar Global Beijing Technology Inc.
Flowing Cloud Technology Ltd.
Shenzhen Samoyed Internet Financial Services Company Ltd
Haitong International Capital Limited
CITIC Securities (Hong Kong) Limited (previously known as CLSA Capital Markets Limited)
BOC International Holdings Ltd.
BOCOM International Holdings Co. Ltd.
China Securities (International) Finance Holding Company Limited
Shenwan Hongyuan (International) Holdings Limited
CCB International (Holdings) Limited Co., Ltd.
Xinjiang Goldwind Science & Technology Co., Ltd.
SPT Energy Group Inc.
Work highlights
- Represented the sole sponsor, Haitong International Capital in relation to HK Acquisition Corporation’s SPAC IPO on the Hong Kong Stock Exchange.
- Advised Flowing Cloud Technology Ltd., the biggest player in China’s AR/VR industry, in relation to its HK$782m IPO on the Hong Kong Stock Exchange.
- Advised CITIC Securities (Hong Kong) Limited and CCB International in connection with the proposed IPO on the Hong Kong Stock Exchange of Zhubajie Co., Ltd., a major customized enterprise services e-commerce platform in China.
O'Melveny
Combining a ‘deep understanding and insight into Chinese culture, laws and regulations and business norms’ with an ‘advanced familiarity of Western practices’, O'Melveny is a popular choice among Chinese issuers and banks across a range of ECM matters, including IPOs, global offerings and follow-on issuances. Under the guidance of Edwin Kwok and Ke Zhu, the firm has gained most prominence as a result of its ability to provide ‘feasible and effective solutions’ in the context of biotech and life sciences issuances.
Practice head(s):
Edwin Kwok; Ke Zhu
Testimonials
‘The lawyers are very professional, efficient and dedicated, and they are able to answer our concerns and questions in a timely manner to facilitate the development of the project.’
‘They have a deep understanding and a unique insight into Chinese culture, laws and regulations and business norms which they combine with an advanced familiarity of Western practices.’
‘The team always proposes feasible and effective solutions.’
Key clients
Luzhu Biotech
Beauty Farm
Cryofocus Medtech (Shanghai) Co., Ltd.
OrbusNeich
Sipai Health Technology Co., Ltd.
3D Medicines Inc.
Gaush Meditech
Haitong International Capital Limited, CCB Internationals, etc.
Jenscare Scientific
Sole sponsor ABCI Capital Limited and joint global coordinators including CICC Hong Kong in the HK IPO of Lushang
Rainmed Medical
Belite Bio
Genecast Group Inc.
Tiantu Group
RemeGen Co., Ltd.
Goldman Sachs and CICC in the HK IPO of 4Paradigm
Shanghai NewMed Medical Co., Ltd
CICC in the HK IPO of Qyuns Therapeutics Co., Ltd.
TransThera Sciences (Nanjing), Inc.
Scivita Medical
Ruichang International
Work highlights
- Advised Luzhu Biotech on its Hong Kong IPO.
- Advised Beauty Farm on its Hong Kong IPO.
- Advised Cryofocus Medtech (Shanghai) Co. on its Hong Kong IPO.
Paul Hastings LLP
The ‘resourceful and technically strong’ team at Paul Hastings LLP provides ‘commercially sensible solutions’ to Chinese and international underwriters and issuers engaged across a range of ECM work, including HKEX IPOs and global offerings, right issues, placing, block trade as well as follow-on offerings. Founding partner and chair of the Greater China practice, Raymond Li has excellent traction in the market, regularly advising on H-share listings, share purchase agreements and Hong Kong IPOs, in addition to M&A involving Hong Kong-listed entities. Other key practitioners include the ‘hands-on, well-prepared and forward-looking’ Peter Cheng and New York and Hong Kong-qualified partner Chaobo Fan, who handles HKEX listings for Chinese corporates, as well as excelling on multi-jurisdictional transactions.
Practice head(s):
Raymond Li; Chaobo Fan
Other key lawyers:
Samuel Ng; Peter Cheng; Steven Hsu
Testimonials
‘The team is resourceful and technically strong to provide commercially sensible solutions in an efficient manner.’
‘The very reliable Peter Cheng is hands-on, well-prepared and forward-looking.’
Key clients
Morgan Stanley
Credit Suisse
CICC
Citi
CMB International Capital Limited
CCB International Capital Limited
CITIC CLSA
BOCI Asia Limited
Fosun
China Merchants Securities
Onewo Inc
COSCO SHIPPING Development Co., Ltd.
ICBC International Capital
China Bohai Bank Co., Ltd.
Goldman Sachs
Mega Genomics Limited
BestPath
Work highlights
- Represented Onewo on its $738m global offering and spin-off listing on the Main Board of the Hong Kong Stock Exchange.
- Represented a consortium as the joint sponsors on the $86m global offering and listing of GOGOX Holdings Limited, a major online intra-city logistic platform in Asia, on the Main Board of the Hong Kong Stock Exchange.
- Represented Morgan Stanley Asia and China International Capital Corporation Hong Kong Securities Limited as the joint sponsors in connection with the HK$238.9m global offering of Beisen Holding Limited and its listing on the Main Board of the Hong Kong Stock Exchange.
Sidley Austin
Led by vastly experienced corporate and finance partner Constance Choy, Sidley Austin‘s Hong Kong-based Greater China capital markets is praised for its ‘strong business capabilities and high levels of professionalism’ and ability to ‘work closely with issuers, investment banks and intermediaries’. As well as handling conventional ECM matters, the firm, which is ‘very farsighted about innovation’, has been at the vanguard of new and reformed listing regimes relating both to SPACs and dual primary listings. The ‘extremely knowledgeable’ Meng Ding, who has a professional background in physics, has been key to these frontier areas, taking the lead on numerous high-profile transactions, including with regard to US capital markets-related de-SPAC and PIPE financing processes. Leveraging strong regulatory ties, Sherlyn Lau is very active handling HKEX IPOs across a wide range of sectors for issuers and underwriters alike.
Practice head(s):
Constance Choy
Other key lawyers:
Meng Ding; Sherlyn Lau; Claudia Yu
Testimonials
‘The team has strong business capabilities and high levels of professionalism, and can work closely with issuers, investment banks and intermediaries.’
‘The lawyers are very farsighted about innovation and have achieved an impressive performance in the capital markets space.’
‘They provide a very professional and prompt service.’
‘Meng Ding has been amazingly responsive and on top of thing every step of the way during both the De-SPAC and PIPE financing processes. I would recommend Meng without reservation to anyone seeking representation in a complex US capital market/M&A transaction.’
Key clients
Gala Technology Holding Limited
Zero2IPO Capital Limited
Yum China Holdings, Inc.
Univest Securities, LLC
Baozun Inc.
Suxin Joyful Life Services Co., Ltd.
HK Acquisition Corporation
MicroPort NeuroTech Limited
Merrill Lynch (Asia Pacific) Limited
LX Technology
UBS Securities Hong Kong Limited
Lushang Life Services Co., Ltd.
US Tiger Securities, Inc.
LC Logistics, Inc.
Qyuns Therapeutics Co., Ltd.
Genuine Biotech Limited
MicroPort Cardiac Rhythm Management Limited
Work highlights
- Advised on the successful IPO and dual-primary listing of MINISO Group Holding on the Main Board of the HKEX.
- Represented HK Acquisition Corporation as the Hong Kong and US counsel in its HK$1bn initial offering and listing on the HKEX.
- Advised MicroPort NeuroTech Limited on its HK$278.1m IPO and listing of shares on the Main Board of HKEX.
A&O Shearman
The ‘energetic‘ team at A&O Shearman provides ‘proactive’ advice to issuers and underwriters/sponsors across a wide range of ECM-related matters, including with regard to IPOs, global equity offerings and follow-on offerings within emerging markets. Praised for her ‘strong commercial instincts’, Wanda Woo is praised for her ‘willingness and ability to coordinate with other professional parties’, including on issuances within the tech and life sciences sectors. New York and Hong Kong-qualified team head Kyungwon (Won) Lee s varied deal flow includes SPAC-related work and SEC-registered and Rule 144 A/Reg S offerings.
Practice head(s):
Kyungwon (Won) Lee
Other key lawyers:
Wanda Woo; Leo Wong
Testimonials
‘The energetic team has a proactive working attitude.’
‘Wanda Woo has superb drafting skills and is able to understand the commercial rationale of the issuer’s business while striking a a balance between regulatory expectation and marketing needs of the issuers.’
‘Wanda Woo has strong commercial instincts, as well as a willingness and ability to coordinate with other professional parties.’
Key clients
Beijing Xinyu Meiye Holdings Limited
invoX Pharma Limited
Credit Suisse Securities (USA) LLC
Citigroup Global Markets Inc.
J.P. Morgan Securities LLC
UBS Securities LLC
China International Capital Corporation
Merrill Lynch (Singapore) Pte. Ltd.
KKR Capital Markets Asia Limited
TPG Capital BD, LLC
Huatai Financial Holdings (Hong Kong) Limited
CCB International Capital Limited
Work highlights
- Representing invoX Pharma Limited (invoX), a subsidiary of HKEX-listed Sino Biopharmaceutical Limited, in connection with invoX’s acquisition of all issued and outstanding shares of the common stock of F-star Therapeutics, Inc.
- Representing Credit Suisse Securities and Deutsche Bank as exclusive joint placement agents for Lotus Technology Inc. on its proposed PIPE offering.
- Advised Beijing Xinyu Meiye Holdings Limited as a selling shareholder in connection with the primary listing of Beauty Farm Medical and Health Industry Inc. on the Main Board of The Stock Exchange of Hong Kong and its global offering.
Cleary Gottlieb Steen & Hamilton
Cleary Gottlieb Steen & Hamilton‘s integrated US and Hong Kong capital markets team has a strong reputation advising PRC/Hong Kong issuers as well as international sponsors/underwriters on listings and secondary offerings in Hong Kong. A number of these have recently taken the form of dual primary listings by introduction, including on behalf of OneConnect Financial Technology Co where as well as its listing on the HKSE its ADSs are listed on the NYSE. New York and Hong Kong-qualified partner Shuang Zhao is one of the key practitioners advising on domestic and international SEC-registered and Reg S/Rule144A IPOs. UK and Hong Kong-qualified partner Freeman Chan is also a key practitioner both for conventional ECM work, as well as public M&A, where he is able to leverage his role as chairman of the Takeovers and Mergers Panel. Miao Zhang, who was recently promoted to partner, co-heads the team alongside Zhao and Chan.
Practice head(s):
Freeman Chan; Shuang Zhao; Miao Zhang
Other key lawyers:
Robert Williams
Testimonials
‘They understand how to balance between being commercial / efficient and being thorough / thoughtful in supporting sophisticated clients achieve their transaction objectives.‘
Key clients
B of A Securities
Burning Rock Biotech
Goldman Sachs
H World
Morgan Stanley
OneConnect Financial Technology
Work highlights
- Advised Goldman Sachs and CSCI, as joint sponsors, and Goldman Sachs, CSCI, and CICC, as the overall co-ordinators, joint global coordinators, joint bookrunners, and joint lead managers, in the HK$5.3bn global offering of ordinary shares and primary listing of ZJLD Group Inc. on the Main Board of the Hong Kong Stock Exchange.
- Advised Burning Rock Biotech in its direct listing on the London Stock Exchange.
- Advised OneConnect Financial Technology on its dual primary listing by introduction on the Main Board of the Hong Kong Stock Exchange.
Dentons Hong Kong
Drawing upon ‘extensive knowledge and experience in navigating the complexities of securities laws and regulations’, Dentons Hong Kong is able to provide the ‘most relevant and effective advice’ for issuers and underwriters, including on listings within the automotive, consumer and property sectors. Appreciated for his ‘practical solutions and proactive approach’, Norman Hui leads the Hong Kong ECM team and has been active on a number of HKEX listings, as well as work for listed companies on ongoing transactions and regulatory compliance matters. The vastly experienced Gordon NG leads the overarching corporate finance function, and also has considerable expertise in relation to capital markets matters, including IPOs, pre-IPO financings, privatisations and de-listings. The arrival of Nicholas Chua in August 2023 following a long in-house career in the banking industry, most recently at CIMB Bank, further enhances the team.
Practice head(s):
Gordon Ng; Norman Hui
Other key lawyers:
Nicholas Chua; Rachel Han
Testimonials
‘The team possesses extensive knowledge and experience in navigating the complexities of securities laws and regulations, and is consequently able to provide the most relevant and effective advice to clients.’
‘Their proactive approach to monitoring changes in securities laws and regulations ensures that we are well-informed and can adapt our strategies accordingly.’
‘Norman Hui’s extensive experience and deep understanding of securities laws and regulations have been instrumental in helping us navigate complex regulatory issues. His ability to provide practical solutions and his proactive approach to addressing potential challenges have been truly valuable to our organisation.‘
Key clients
China Securities (International) Corporate Finance Company Limited
Innovation Works Development Fund L.P. and Innovation Works Holding Limited
NWS Holdings Limited
Qiming Managing Directors Fund III, L.P., Qiming Venture Partners III, L.P. and Qiming Venture Partners III Annex Fund, L.P.
Work highlights
- Hong Kong legal advisers to the sole sponsor, China Securities (International) Corporate Finance Company Limited, for the listing application of a leading PRC manufacturer and sale (by distribution) of electric two-wheeled vehicles in the proposed listing of its shares on the Main Board of the Hong Kong Stock Exchange by way of global offering.
- Advised NWS Holdings Limited on its acquisition of a majority equity interest of a company that operates the Hunan Sui-Yue Expressway with a tailored consideration payment mechanism to guarantee the performance of certain conditions precedent, and the related listing rules implications.
- Advised NWS Holdings Limited on its acquisitions of 40% equity interest of a company that operates the Guigang-Wuzhou Expressway and related creditor’s rights and dividend receivable from the corresponding sellers, and the related listing rules implications.
DLA Piper
Forming part of an integrated Greater China offering that includes a significant presence on the mainland, DLA Piper‘s Hong Kong team is well-placed to advise issuers and underwriters on domestic and international ECM matters utilising lawyers with domestic, English and US securities law expertise. Arthur Tso handles a significant volume of Hong Kong IPOs including complex dual listings and concurrent Regulation S international offerings, in addition to post listing regulatory compliance mandates and public M&A advice. Other key practitioners include Christina Loh, who has extensive experience advising leading financial institutions and issuers in a diverse range of industries on global and domestic offering and New York-qualified partner George Wu, whose varied corporate practice includes work relating to Rule 144A, Regulation S and SEC registered equity offerings.
Practice head(s):
Luke Gannon; Arthur Tso
Other key lawyers:
Christina Loh; George Wu
Testimonials
‘The team provides efficient legal services and a professional understanding of business knowledge.’
‘They provide a very professional and cost-effective service across a range of capital markets matters.’
Key clients
Lanvin Group
Jayud Global Logistics Limited
Lucas GC Limited
MC Hologram Inc.
VIYI Algorithm Inc.
Deewin Tianxia Co., Ltd
CMC Capital Partners
Gaocheng Capital
China International Marine Containers (Group) Co., Ltd
CIMC Enric Holdings Limited
SouthGobi Resources
Work highlights
- Advising Lanvin Group on its $1.9bn going public transaction by merging with Primavera Capital Acquisition Group, a special-purpose acquisition company backed by the Chinese investment firm Primavera Capital Group.
- Advising Jayud Global Logistics Limited, one of the leading Shenzhen-based end-to-end supply chain solution providers in China, on its proposed IPO of common shares on Nasdaq.
Eversheds Sutherland
Forming part of the overarching corporate group, which is led by ‘standout partner’ Dickson Ng, Eversheds Sutherland‘s ECM offering encompasses corporate activity involving listed entities, as well as core capital markets work, running the gamut from pre-IPO fund raisings, through to IPOs and secondary offerings. Senior partner Stephen Mok provides ‘practical and actionable advice’ and is one of the key members of the team that also includes Amy Yu , who draws upon her previous experience in-house to provide ‘legally feasible and commercially practical solutions’ to issuers, sponsors and underwriters across a range of ECM mandates.
Practice head(s):
Dickson Ng
Other key lawyers:
Stephen Mok; Roger Zhou; Amy Yu
Testimonials
‘The team is diligent, professional and provides pragmatic advice.’
‘Dickson Ng is the standout partner. He is very capable and can always provide efficient solutions to client.’
‘Stephen Mok provides practical and actionable advice.’
‘Amy Yu is a capable and practical lawyer who always willing to patiently discuss with us and assist to find both legally feasible and commercially practical solutions for us.’
Key clients
NWS Holdings Limited
TOM Group Limited
Oversea-Chinese Banking Corporation Limited
Hainan Meilan International Airport Company Limited
Work highlights
- Advised NWS Holdings Limited, a diversified conglomerate listed on the Hong Kong Stock Exchange, on its acquisition of a portfolio of six premium logistics properties in Chengdu and Wuhan, the PRC from Goodman China Logistics Partnership for RMB2.29bn, and the associated formation of a joint venture with Goodman to manage and operate these assets as well as future logistics properties in the PRC.
- Advised TOM Group Limited in connection with the capitalisation and restructuring of Ule Holdings Limited (a joint venture between TOM and China Post) that is principally engaged in the e-commerce and retail sector in the PRC.
- Advised Oversea-Chinese Banking Corporation Limited on its role as underwriter in the one-for-five rights issue of Link Real Estate Investment Trust.
Jones Day
Praised for its ‘great negotiating skills’, language capabilities and international resources, Jones Day handles a significant amount of work relating to HKEX IPOs, global offerings, follow-on offerings, regulatory compliance and public M&A. The team has gained particular acclaim for its work in biotech/life sciences and hi-tech sectors, with ‘technically sound and commercially astute’ Joelle Lau a popular choice among Chinese issuers and banks on listings in the space. The ‘responsive and always reachable’ Charles Chau , who co-heads the team alongside Lau, is also noted for his work in the bioscience sector, including on issuer side private placements, IPOs, as well as current work for a proposed SPAC focused on biotech/TMT targets.
Practice head(s):
Joelle Lau; Charles Chau
Other key lawyers:
Halent Zhang; Donna Ko; Wenxing Feng
Testimonials
‘Jones Day has great experience in capital market area. The lawyers have great negotiating skills and are able to provide valuable advice.’
‘Effectively bilingual team with particular depth of experience in the biosciences space.’
‘Charles Chau is responsive and always reachable.’
‘Joelle Lau is technically sound, very hands on, proactive, commercially astute and effectively bilingual.’
Key clients
GenScript Biotech Corporation
Legend Biotech Corporation
Jefferies LLC
Guotai Junan Capital Limited
New Hope Group Co Ltd
China Galaxy International Financial Capital Limited
China International Capital Corporation Limited (CICC)
China International Capital Corporation Hong Kong Securities Limited
China Everbright Securities International Limited
CMBC International Capital Limited
Shanghai Junshi Biosciences Co., Ltd
Halcyon Capital Limited
Greater Bay Area Homeland Investments Limited
BOC International (Asia) Limited
Huatai Financial Holdings (Hong Kong) Ltd
BNP Paribas Securities (Asia) Limited
Shanghai Junshi Biosciences Co., Ltd.
UBS AG Hong Kong Branch
UBS Securities Hong Kong Limited
OMERS Administration Corporation
The Hong Kong and China Gas Company Limited
Samson Paper Holdings Limited
Work highlights
- Represented GenScript Biotech Corporation in Legend Biotech’s various fundraising activities by way of private placements and a registered direct offering involving various counterparties, including Hillhouse Investment Management, Ltd., RA Capital Management, L.P. and Legend Capital Group, etc.
- Representing Samson Paper Holdings Limited on its $385m Bermuda/Mainland China/Hong Kong cross-border restructuring deal.
- Advised a SPAC, on its proposed HK$1bn IPO and listing on the Main Board of The Hong Kong Stock Exchange.
Milbank
Under the leadership of James Grandolfo, Milbank has developed a strong and successful practice advising issuers and underwriters on capital markets work in various venues throughout Southeast Asia. On the ECM front, the ‘personable, professional, relentless and trustworthy’ Hong Kong team has been particularly active advising on Philippines-related work, with the ‘outstanding’ Paul Pery and counsel Ari Singzon key members of the team.
Practice head(s):
James Grandolfo
Other key lawyers:
Paul Pery; Ari Singzon
Testimonials
‘The team has a top-notch Philippines equity practice.’
‘The team are personable, professional, relentless and trustworthy. You won’t make a mistake recommending them to clients tapping the Philippine equity markets.’
‘Paul Pery and Ari Singzon are outstanding and always helpful and responsive.’
Key clients
BofA Securities
Morgan Stanley
Deutsche Bank
China Bank Capital
HSBC
BPI Capital
CLSA
Credit Suisse
BDO Capital
Bank of America Merrill Lynch
Nomura Singapore Limited
CIMB Investment Bank Bhd,
Macquarie Capital Securities (Singapore) Pte Limited
Maybank Kim Eng Securities Pte. Ltd.
PNB Capital and Investment Corporation
Standard Chartered Bank
BNP Paribas Securities (Asia) Limited
Investment & Capital Corporation of the Philippines,
RCBC Capital Corporation
Monde Nissin Corporation
Filinvest Land, Inc. and Filinvest REIT Corp.
Australia and New Zealand Banking Group Limited
DDMP REIT, Inc
Synergy Grid & Development Phils., Inc.
MREIT, Inc.
Citicore Energy REIT Corp.
Masan Group Corporation
Work highlights
- Advised the joint global co-ordinators and joint domestic underwriters on the PHP40bn stock rights offering by UnionBank of the Philippines.
- Advised the joint bookrunners on the $125m Regulation S IPO of Citicore Energy REIT Corp.
Reed Smith Richards Butler LLP
Reed Smith Richards Butler LLP provides ‘comprehensive and well-rounded solutions’ to an issuer-focused client base across a range of HKEX IPOs, follow-on and secondary offerings, as well as private placements. In this context, the team, which includes many dual Hong Kong and English-qualified practitioners, combines local cultural, business and legal expertise with a truly internationally outlook. With deep experience in handing capital markets work, team head Denise Jong has ‘maintained a good network with clients and regulatory authorities’, and as well as handling ECM transactional work is also noted for her compliance expertise and her experience handling privatisations of Hong Kong-listed companies.
Practice head(s):
Denise Jong
Other key lawyers:
Ivy La; KC Mok; Delpha Ho; Anthony Woo
Testimonials
‘The team provides comprehensive and well-rounded solutions.’
‘We feel that we are always their priority although in reality they may be working on many project simultaneously.’
‘Denise Jong has over 30 years’ experience in capital markets. She has maintained a good network with clients and regulatory authorities.’
Wilson Sonsini Goodrich & Rosati
Acting on its own, as well as frequently drawing upon broader Greater China resources from the mainland, Wilson Sonsini Goodrich & Rosati is able to provide domestic and US securities law advice to Chinese issuers and international underwriters across a range of ECM/corporate finance work, including on HKEX IPOs, follow-on offerings, SPACs and de-SPACs. Unsurprisingly perhaps, given the firm’s historical and ongoing reputation as a Silicon Valley heavyweight, many of these mandates relate to growth industries including TMT, healthcare and life sciences. Splitting her time between the Hong Kong and Beijing offices, team head Dan Ouyang is pivotal to the team’s success.
Practice head(s):
Dan Ouyang
Other key lawyers:
Winfield Lau
Key clients
Citigroup Global Markets
China International Capital Corporation
Fenbi Ltd.
Lepu ScienTech Medical Technology
QuantaSing Group Limited
YishengBio Co., Ltd
TechStar Acquisition Corporation
Huafang Group Inc.
PU’ER LANCANG ANCIENT TEA CO., LTD.
Baijiayun Group Ltd
Work highlights
- Advising Fenbi Ltd. on its $25.5m Hong Kong IPO.
- Advising TechStar Acquisition Corp. on $128.5m Hong Kong SPAC listing.
- Advising ScienTech Medical on $83.4m IPO.
Eric Chow & Co., in Association with Commerce & Finance Law Offices
Under the leadership of Eric Chow, the ‘young, vibrant and knowledgeable’ team at Eric Chow & Co., in Association with Commerce & Finance Law Offices has gained significant traction among PRC issuers looking to raise equity on the HKEX, where it is appreciated for its ability to provide a ‘nimble, responsive and cost-effective service’. Priscilla Lee provides ‘pragmatic and very hands-on’ advice that is ‘attuned to client needs’ and is a key member of the team that was also strengthened on the sponsor side by the arrival in May 2023 of Terence Lau in a senior consultancy role from Norton Rose Fulbright.
Practice head(s):
Eric Chow
Other key lawyers:
Clement Jiang; Priscilla Lee; Terence Lau; Brandon Chow; Winnie Tang; Jessie Cheung
Testimonials
‘The team is young, vibrant and knowledgeable.’
‘It is a boutique size firm enabling them to provide quick advice and services to the client at a reasonable costs compared with city firms.’
‘Priscilla Lee is responsive, approachable, pragmatic and very hands-on.’
‘The diligent Priscilla Lee is particularly impressive and attuned to client needs.’
Key clients
China Securities (International) Corporate Finance Company Limited
China Merchants Securities (HK) Co., Limited
Fuli Gemstones International Holdings Limited
Beijing Luzhu Biotechnology Co., Ltd.
Firstar Holdings Group Limited
China XLX Fertiliser Ltd. (HKEx: 1866)
Alliance Capital Partners Limited
Concord Healthcare Group Co., Ltd
Aidigong Maternal & Child Health Limited
Work highlights
- Advised Beijing Luzhu Biotechnology Co. in its listing and global offering of H shares on the Main Board of the Hong Kong Stock Exchange.
- Advised Fuli Gemstones International Holdings Limited in its proposed listing on the Main Board of The Stock Exchange of Hong Kong Limited.
- Advised Concord Healthcare Group Co., Ltd. in its proposed listing on the Main Board of the Hong Kong Stock Exchange.
Kwok Yih & Chan
Independent Hong Kong firm Kwok Yih & Chan continues to thrive acting across a range of corporate finance and capital markets matters. With all three name partners having deep insight into the Hong Kong securities market gained through their long careers both at the firm they founded and in their previous firms, the team has been particularly effective advising on IPOs and listings on the HKSE. In this context Conrad Chan and Dieter Yih are particularly adept advising regional financial institutions as sponsors.
Practice head(s):
Larry Kwok; Dieter Yih; Conrad Chan
Other key lawyers:
Leon Saw; Cecil Kwong; Ronnie Bow; Danny Chow; Jenny Ng; Kitty Cheung
Key clients
China Tonghai Capital Limited and China Tonghai Securities Limited
Southwest Securities (HK) Capital Limited
Dongxing Securities (Hong Kong) Company Limited
Work highlights
- Advised China Tonghai Capital Limited (acting as the sole sponsor and now known as Quam Capital Limited), China Tonghai Securities Limited (acting as sole global co-ordinator and now known as Quam Securities Limited) and other underwriters in connection with the listing of the shares of BoardWare Intelligence Technology Limited on the Main Board of the HKEx.
- Advised Southwest Securities (HK) Capital Limited (acting as the sole sponsor) in connection with the listing of the shares of Sanergy Group Limited on the Main Board of the HKEx.
- Advised Dongxing Securities (Hong Kong) Company Limited (acting as the sole sponsor) in connection with the proposed listing of In-Tech Holdings (Cayman) Limited on the Main Board of the HKEx.
Loeb & Loeb LLP
Loeb & Loeb LLP‘s company-side focused practice regularly advises issuers on their ECM activities on the HKSE, as well as on ongoing compliance issues. In addition, the team often works alongside colleagues in the US advising Asia-based companies seeking to raise money in the US, including listings on the Nasdaq. Splitting his time between Hong Kong and Beijing, team head Lawrence Venick is key to the firm’s success helping Asia-based companies tap the US capital markets, and has also recently advised on a number of Asia-focused SPACs listing on the Nasdaq.
Practice head(s):
Lawrence Venick
Other key lawyers:
Roy Choi; Michael Fung; JC Lee; Wallace Lau; Jeffrey Kung; Michael Tsang; Anna Chau; Kelly Tang; Jeffrey Yeung
Key clients
Aquarius I Acquisition and Aquarius II Acquisition
Yue Xiu Capital Limited
Primech Holdings Ltd
Ares Asia Limited
Sun.King Technology Group Limited
Perfect Group International Holdings Limited
Virax Biolabs Group Limited
YMA Corporation/J-Star Holding Co., Ltd
AgapeATP
Ocean Capital Acquisition Corporation
Addentax Group
AGBA Acquisition Limited
Magic Empire Global Limited
Phoenix Acquisition
Maxim Group LLC
Network 1 Financial Securities, Inc.
Alliance Global Partners
Boustead Securities, LLC
Kairous Acquisition Corp.
Nova Vision Acquisition Corp.
CBL International Limited
Boustead Wavefront Inc.
Bombax Healthcare Acquisition Corporation
Atlas Growth Acquisition Limited
Work highlights
- Represented Malaysia-based bunkering facilitator CBL International Limited on its IPO on the Nasdaq in the US.
- Represented Hong Kong-based company Magic Empire Global Limited on its $22.5m IPO on the US capital markets.
- Representing Ocean Capital Acquisition Corporation, a blank-check company, on its $60m IPO on Nasdaq.
Mayer Brown
Mayer Brown handles a steady flow of work for issuers and underwriters on mid-sized listings and global offerings on the HKSE, as well as on follow-on offerings and convertible bond offerings. Chinese speaking team head Billy Au has strong traction among Chinese state-owned and privately-owned enterprises (including within regulated sectors), which regularly instruct him on their ECM work and broader corporate finance mandates.
Practice head(s):
Billy Au
Other key lawyers:
Jeckle Chiu; Bonnie Yung; Jason Wang; Jason Elder; Thomas Kollar; Guiping Lu
Key clients
China Overseas Land & Investment Ltd.
BOCI Asia Limited
AK Medical Holdings Limited
Jiayuan International Group Limited
BNP Paribas
CCB International Capital Limited
Credit Suisse
Guotai Junan Capital Limited
Haitong International Securities Company Limited
UBS Securities Hong Kong Limited
CLSA Capital Markets Limited
Huabao International Holdings Limited
Sagaliam Acquisition Corp.
Sunfire Acquisition Corp Limited
Jiayuan International Group Limited
Citigroup Global Markets Asia Limited
Sky Light Holdings Limited
SF REIT Asset Management Limited
Sunfire Acquisition Corp Limited
EF Hutton, division of Benchmark Investments, LLC
Brookline Capital Markets, a division of Arcadia Securities, LLC
Sagaliam Acquisition Corp.
Work highlights
- Assisted Jiayuan International Group Limited on the preparation of all transaction documents and attending the closing of the transaction in relation to its fundraise through the issue of convertible bonds to repay the principal and/or interest of certain of its existing liabilities and to improve its liquidity in light of the liquidity crisis of the real estate sector in the PRC.
- Advising two global financial services companies on the liquidity arrangements of the designated dealers in relation to an application for dual primary listing on the Hong Kong Stock Exchange by way of introduction.
- Advised Citigroup Global Markets Asia Limited on the preparation of the transaction documents, namely the placing and subscription agreement, and also on the Listing Rules implications of such a deal.
Stevenson, Wong & Co
Led by Hank Lo , the ‘multilingual, responsive and hardworking’ team at Stevenson, Wong & Co provides ‘cost-effective and practical advice’ to issuers and underwriters on global offerings and listings on the HKSE. In this regard, the firm also benefits from a strategic association with mainland firm AllBright Law Offices, enabling it to quickly and effectively deal with any Chinese law issues that may arise in the course of a transaction. The team is also very effective at assisting Greater China companies list on the Nasdaq, with newly promoted partner Gordon Tsang particularly effective in this regard.
Practice head(s):
Hank Lo
Other key lawyers:
Cornelia Chu; Rodney Teoh; Erica Cheng; Gordon Tsang; Terence Lau
Testimonials
‘The multilingual, responsive and hardworking team goes the extra mile for its clients.‘
‘Stevenson, Wong & Co is able to understand the real needs of customers and provides cost-effective and practical advice to solve customers’ problems.’
‘Rodney Teoh is a strong technical lawyer, with a good understanding of the market standards and client needs. He is commercially savvy, responsive and highly regarded by a wide range of clients.’
Key clients
Wenling Zhejiang Measuring and Cutting Tools Trading Centre Company
Sundy Service Group Co. Ltd
Forgame Holdings Limited
Oriental Culture Holding
Mabpharm Limited
Sunshine 100 China Holdings
Sundy Service Group Co. Ltd
Jiangsu Innovative Ecological New Materials Ltd.
Wonderful Sky Financial Group Holdings Ltd.
Zunyi Road and Bridge
International Alliance Financial Leasing
Neijiang Investment Holding
Guizhou Shuanglong Airport Development
Work highlights
- Advised Zhong Yang Financial on its successful listing on the Nasdaq Capital Market.
- Advised Intelligent Living Application Group Inc. on its successful listing on the Nasdaq Capital Market.
- Advised Network 1 Financial Securities, Inc., the lead underwrite of Magic Empire Global Limited on its successful listing on the Nasdaq Capital Market.
Tian Yuan Law Firm
Drawing upon its strong traditional roots in mainland China, Tian Yuan Law Firm‘s Hong Kong office is a popular resource for issuers and underwriters, in relation to red-chip and H share companies listings and IPOs. Team head Nan Li has been pivotal to the firm’s success on the HKSE and has been particularly active handling listings within new economy related industry sectors where clients benefit from his subject matter, legal and regulatory expertise.
Practice head(s):
Nan Li
Other key lawyers:
Charles Wang; William Ji; Crystal Zhang; Isabelle Wu; Jora Guo; Haobo Zhang; Sean Ge; Vivi Song
Key clients
Gaush Meditech Ltd
Zibuyu Group Limited
Howkingtech International Holding Limited
Changjiu Digital Technology Limited
Youlife International Holdings Inc.
Hygeia Healthcare Holdings Co., Limited
GUSHENGTANG HOLDINGS LIMITED
China Graphite Group Limited
Gala Technology Holding Limited
Solargiga Energy Holdings Limited
China Uwin Technology Co., Limited
Work highlights
- Advised Gaush Meditech Ltd, the largest domestic player in China’s ophthalmic medical device market, on its global offering and listing on the Main Board of the Hong Kong Stock Exchange.
- Advised Zibuyu Group Limited, one of the largest cross-border e- commerce companies in China focusing on the sale of apparel and footwear products through third-party e-commerce platforms, on its global offering and listing on the Main Board of the Hong Kong Stock Exchange.
- Advised Howkingtech International Holding Limited on its global offering and listing on the Main Board of the Hong Kong Stock Exchange.
Winston & Strawn LLP
At Winston & Strawn LLP, David Cheng has a strong reputation advising Chinese issuers, including those within the TMT sector, on their HKSE listings (including IPOs), as well as on subsequent corporate and regulatory matters. New York and Hong Kong-qualified team head Simon Luk has also developed excellent traction in the market, regularly working with US colleagues for Asia-based sponsors in completing SPAC IPOs in the US, as well as on subsequent de-SPAC transactions.
Practice head(s):
Simon Luk
Other key lawyers:
David Cheng; Kathy Ku
Key clients
SPDB International Capital Limited
Nanjing Howking Technology Company Limited
Zhengwei Food Co., Ltd. (Jiangxi)
Karrie International Holdings Limited
RF Acquisition Corp.
Big Lift LLC
HuaShi ZhongGuang International Media (Wuhan) Co., Ltd
China Environmental Technology and Bioenergy Holdings
Moody Technology Holdings Limited
CROSSTEC Group Holdings Limited
Work highlights
- Advised Zhengwei Group Holdings on its HK$97m IPO.
- Advised Howkingtech International Holding on its HK$100m IPO.
- Represented Karrie International Holdings Limited on its proposed spin-off of KRP Development Holdings Limited, its wholly-owned subsidiary engaged in property development in the PRC, for listing by way of introduction on the Main Board of The Stock Exchange of Hong Kong.