Hong Kong Law Team Successfully Closes Three IPOs in First Nine Months

Shearman & Sterling’s newly formed Hong Kong law team has had an impressive start to its first year, successfully closing three IPOs year to date.

Most recently, a combined Hong Kong and US law team led by Colin Law and Matthew Bersani and supported by Edward Bong (Hong Kong-Capital Markets), Alex Chong (Hong Kong-Capital Markets), and Elsie Leung (Hong Kong-Capital Markets) on the Hong Kong law side and Vanina de Verneuil (Beijing-Capital Markets), Maggie Guan (Hong Kong-Capital Markets),  Xiuqin Cao (Beijing-M&A), and Wei Li (Beijing-M&A) on the US side, represented Morgan Stanley and UBS as joint sponsors in the US$740 million initial public offering of shares in Sihuan Pharmaceutical Holdings Group Ltd. on the Hong Kong Stock Exchange.

A Hong Kong law team, headed up by partner Colin Law, advised Credit Suisse and Morgan Stanley as joint sponsors in the initial public offering of shares in Besunyen Holdings Company Limited, the leading provider of therapeutic tea in China, on its HK$1.3 billion Hong Kong listing–one of the fastest deals completed by Credit Suisse and Morgan Stanley, taking just five months and two days from initial kick-off to closing. Other lawyers on the team were Paloma Wang (Hong Kong-Capital Markets), William Ji (Hong Kong-Capital Markets), and Elsie Leung (Hong Kong-Capital Markets), and on the US side Yunlong Gao (Beijing-Capital Markets), Vanina de Verneui (Beijing-Capital Markets), Dicky Tsang (Beijing-Capital Markets), and Pingping Liu (Shanghai-Capital Markets).

The team also represented Midas Holdings Limited, a Singapore-incorporated company, in its secondary listing on the Hong Kong Stock Exchange. The company is the leading manufacturer of aluminum alloy extrusion products for the passenger rail transportation sector in China. The deal raised approximately HK$1.17 billion and represents the first secondary listing of a Singapore-listed company on the Hong Kong Stock Exchange. The team was led by Colin Law (Hong Kong-Capital Markets), supported by Paloma Wang (Hong Kong-Capital Markets), Risen Tan (Hong Kong-Capital Markets), and William Ji (Hong Kong-Capital Markets), and on the US side by Vanina de Verneui (Beijing-Capital Markets) and Wei Li (Beijing-M&A).

Reflecting on the IPO transactions, Colin Law said, “We are pleased to have made such a strong start and really hit the ground running this year. We are committed to building truly integrated US/Hong Kong execution capability, and our success is clear testament to the hard work and dedication of all members of our team to making this happen.”

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