Cleary Gottlieb Steen & Hamilton has a wealth of experience in both US and Hong Kong ECM transactions. The capital markets team offers advice on every type of transaction from Hong Kong IPOs to Rule 144A/ Regulation S bonds and follow-on offerings. Freeman Chan leads the team and acts for both issuers and underwriters in Hong Kong IPOs. Fellow practice head Shuang Zhao specialises in high-end ECM transactions in both the US and Hong Kong. Miao Zhang focuses her practice on Hong Kong-based transactions. Biyuan Zhang was promoted to partner in January 2025 and is the firm’s key contact for US transactions. They both also lead the team.
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Key clients
- Autostreets Development Limited
- BofA Securities
- Burning Rock Biotech
- Goldman Sachs
- H World Group
- Jiangsu Hengrui Pharmaceuticals
- Morgan Stanley
- OneConnect Financial Technology
Work highlights
Advised the underwriters in the HK$6.1 billion global offering of Class B ordinary shares and the listing of Horizon Robotics on the Main Board of the Hong Kong Stock Exchange.
Advised the underwriters in the initial public offering and Nasdaq-listing of Pony AI Inc.
Advised the placing agents in a $5.6 billion H-share placement by BYD Company Limited.
Practice head
Freeman Chan; Shuang Zhao; Miao Zhang; Biyuan Zhang