Venture Capital and Private Equity

We advise on matters ranging from early stage investments to pre-IPO funding rounds prior to exits via IPOs. Our clients include institutional investors, venture capital funds, as well as founders and companies seeking funding.

We have advised:

  • A leading pear juice manufacturer company with its facilities based in Shandong, China on its more than US$220 million pre-IPO investment.
  • One of the largest smart card manufacturers in the world on its US$125 million pre-IPO investment.
  • RRJ on various private equity transactions, including its pre-IPO investment in Shanghai Yupei Group.
  • Numerous venture capital transactions for high-growth companies in sectors such as technology and education.

IPOs and Secondary Offerings

We help high-growth and/or high-profile companies raise funds via IPOs in Hong Kong. We also assist Hong Kong-listed companies in their post-listing regulatory and compliance matters.

We are currently advising as HK legal counsel on the Main Board listings of:

  • A fruit and vegetable juice manufacturer in the PRC, which is a spin-off from its Singapore-listed parent company.
  • A leading pear juice manufacturer with facilities based in Shandong, China.

We have advised:

  • Okura Holdings Limited, a pachinko hall operator in Japan, on its HK$150 million initial public offering on the Main Board of The Stock Exchange of Hong Kong.
  • IBI Group Holdings Limited, a building contractor focusing on providing renovation services in Hong Kong and Macau, on the Main Board of the Hong Kong Stock Exchange. The IPO was very successful at over 1,800 times over-subscribed.
  • CM International Holding Pte. Ltd., a Chinese investment company and subsidiary of China Minsheng Investment Corp., Ltd., on its HK$900 million subscription of shares in Hong Kong-listed China Medical & Healthcare Group Limited (previously known as COL Capital Limited).
  • Hong Kong-listed ELL Environmental Holdings Limited, a water treatment company with its facilities based in Jiangsu, China, on its HK$77.6 million top-up placing.
  • Numerous listing candidates on their pre-IPO restructuring and compliance matters.

Public Takeovers

We advise both Hong Kong-listed companies and investors on all forms of public takeovers in Hong Kong.

We have advised:

  • The consortium led by Jet Li on their proposed HK$1.5 billion subscription of shares of Hong Kong-listed Far East Holdings International Limited.
  • Alibaba Health Information Technology Limited (formerly known as CITIC 21CN Co., Ltd., a Hong Kong-listed member company of CITIC Group) on its post-takeover matters following its HK$1.3 billion takeover by Alibaba Group (one of China’s largest e-commerce companies) and Yunfeng Capital.*
  • One of the largest printing companies in Hong Kong on its HK$865 million acquisition by one of the world’s leading private equity and investment advisory firms of a controlling stake, which involved obtaining a whitewash waiver to enable a change of control without triggering a mandatory general offer.*
  • One of the largest industrial and commercial fire safety product manufacturers in China on its US$247 million takeover bid by an American multinational conglomerate, which was a voluntary general offer to acquire all the shares subject to various pre-conditions, including anti-trust filings in China.*
  • A key shareholder on defence strategies in the failed US$2.2 billion hostile takeover of Hong Kong-listed China Gas Holdings by ENN Energy Holdings and China Petroleum & Chemical Corp (Sinopec).*

* denotes deals completed in previous firms

Joint Ventures and M&A

We advise on all matters in relation to the management, financing, and strategies involved with multi-jurisdictional M&As.

We have advised:

  • One of the largest smart-card manufacturers in the world on various M&A transactions, including the acquisition of the data-printing and mail processing services from the leading provider of mail, logistics and ecommerce solutions in Singapore and the Asia Pacific region.
  • MUBI, Inc., a London-headquartered company which operates a curated online video-on-demand platform, on its proposed US$40 million joint venture with Hong Kong-listed Huanxi Media Group Limited.
  • Engine Group, a London-based creative agency and consultancy, on the sale of its HK and China companies.

Regulatory and Compliance

We advise on all post-listing regulatory and compliance work, including corporate matters as well as investigations by the regulators.

We have advised:

  • A key shareholder of Alibaba Health Information Technology Limited (formerly known as CITIC 21CN Co., Ltd.) on the Securities and Futures Commission (SFC) Takeovers Panel Hearing relating to the takeover by Alibaba Group and Yunfeng Fund.

We are currently advising:

  • Various listed companies such as Alibaba Health Information Technology Limited, Christine International Holdings Limited, CW Group Holdings Limited, ELL Environmental Holdings Limited and Okura Holdings Limited, on ongoing post-listing regulatory and compliance work as well as corporate matters.
  • SK E&S, a key subsidiary of the SK Group which is one of the largest conglomerates in South Korea, on its ongoing investment in Hong Kong-listed China Gas Holdings, which involved various complex regulatory and compliance issues under Hong Kong and China law, director and shareholder disputes and corporate matters.