Our Team

Equity Capital Markets

• CEB International Capital Corporation Limited as the sole sponsor and underwriter in the HK$125 million global offering and IPO of H-shares of Xi’an Kingfar Property Services Co., Ltd. (HKEx: 1354) on the Main Board of the Hong Kong Stock Exchange. Kingfar Property is a state-owned comprehensive city service and property management service provider in China.
• China Nonferrous Mining Corporation Limited (HKEx: 1258), in its HK$978 million top-up placing of shares. China Nonferrous Mining Corporation Limited is a state-owned enterprise, principally engaged in exploration, mining, ore processing, leaching, smelting and sale of copper cathode.
• China Everbright Capital Limited as the sole sponsor in the US$20.05 million global offering and IPO of H-shares of Tianjin Construction Development Group Co., Ltd. (HKEx: 2515) on the Main Board of the Hong Kong Stock Exchange. Tianjin Construction Development Group Co., Ltd. is a construction group based in Tianjin which offers comprehensive construction services.
• Concord Healthcare Group Co., Ltd. (HKEx: 2453) in its US$82.9 million global offering and IPO of H-shares on the Main Board of the Hong Kong Stock Exchange. Concord Healthcare Group Co., Ltd. is a PRC hi-tech enterprise committed to providing advanced multidisciplinary treatment technology for cancer, and currently focuses on utilizing modern advanced radiotherapy technology and carrying out cutting-edge treatment research on cancer.
• China Securities (International) Corporate Finance Company Limited and China Merchants Securities (HK) Co., Limited as the joint sponsors on the US$32.05 million global offering and IPO of H-shares of Pu’er Lancang Ancient Tea Co., Ltd. (HKEx: 6911) on the Main Board of the Hong Kong Stock Exchange. Pu’er Lancang Ancient Tea Co., Ltd. is a comprehensive tea company that integrates research and development, production, and sales.
• Beijing Luzhu Biotechnology Co., Ltd. (HKEx: 2480) in its US$43 million global offering and IPO of H-shares on the Main Board of the Hong Kong Stock Exchange. Luzhu Biotech is a biotechnology company committed to developing innovative human vaccines and therapeutic biologics to prevent and control infectious diseases and treat cancer and autoimmune diseases.
• Aidigong Maternal & Child Health Limited (HKEx: 0286) in its issuance of a HK$224.7 million convertible preference shares to the subscriber whose general partner is Zhuhai Gao Ling Deyou Investment Management Co., Ltd.
• China XLX Fertiliser Ltd. in its HK$510.25 million placement of shares. CLSA Limited and Essence International Securities (Hong Kong) Limited acted as the Placing Agents in this transaction.
• China Everbright Capital Limited as sole sponsor and the underwriters on the US$53 million global offering and IPO on the Main Board of the Hong Kong Stock Exchange of Semk Holdings International Limited. Semk Holdings International Limited is the second largest domestic character IP company and ranked fifth among all character IP companies in China.
• CCB International and China Securities (International) as joint sponsors on the US$124 million global offering and IPO on the Main Board of the Hong Kong Stock Exchange of E-Star Commercial Management Company Limited, a leading commercial property operational service provider in the Greater Bay Area.
• Immunotech Biopharm Ltd., a leading cellular immunotherapy biopharmaceutical company in China focusing on the research, development, and commercialisation of T cell immunotherapy, in its US$ 145 million global offering and IPO on the Main Board of the Hong Kong Stock Exchange. CCBI and Guosen Securities and Haitong International Securities were the joint global coordinators, joint bookrunners, and joint lead managers.
• WAG Worldsec Corporate Finance Ltd. as sole sponsor on the US$200 million global offering and IPO on the Main Board of the Hong Kong Stock Exchange of Ganglong China Property Group Limited, an established property developer in the Yangtze River Delta Region focusing the development of properties predominantly for residential use mixed with accompanying ancillary facilities. CRIC Securities and CMB International Capital were the joint global coordinators, joint bookrunners, and joint lead managers.
• Maike Tube Industry Holdings Ltd., a company manufacturing and selling of standard prefabricated pipe nipple products and steel pipe products in Jinan, in its US$24 million global offering and IPO on the Main Board of the Hong Kong Stock Exchange.
• Morgan Stanley, Credit Suisse, and China Merchants Securities as joint sponsors on the US$ 322 million global offering and IPO of Zhou Hei Ya International Holdings Company Limited (1458.HK), a casual braised food producer based in Wuhan. This transaction marked the largest food producer IPO in Hong Kong ever since 2016.
• Morgan Stanley and Nomura International as joint bookrunners on the US$172 million global offering and IPO of Honma Golf Limited (6858.HK), a Japanese golf equipment company. This marks the first golf equipment company listing on the Hong Kong Stock Exchange.
• Bank of Tianjin Co., Ltd., the only city commercial bank headquartered in Tianjin, in its US$948 million global offering and H-share IPO on the Main Board of the Hong Kong Stock Exchange. BOCI Asia, ABC International and CCB International were the joint sponsors.
• WH Group Limited (288.HK), the world’s largest pork company, with global leadership across key segments of the industry value chain, including packaged meats, fresh pork and hog production, on its US$2.36 billion global offering and IPO. Morgan Stanley and BOCI Asia were the sponsors and underwriters. This transaction marked one of the largest IPOs in Hong Kong in 2014 and was awarded Deal of the Year 2014 by China Business Law Journal.
• Haitong International, J.P. Morgan, Credit Suisse, Deutsche Bank, Citigroup and UBS, as joint global coordinators, and other underwriters on the US$1.68 billion global offering and IPO of H-shares of Haitong Securities Co. Ltd., the second largest securities firm in China by total assets, on the Main Board of the Hong Kong Stock Exchange. This transaction was awarded "Equity Deal of the Year 2012" by China Law & Practice.
• CCB International, China International Capital Corporation, Morgan Stanley, CITIC Securities International, Merrill Lynch Hong Kong, Credit Suisse, BOCI Asia, UBS and DBS Bank, as the underwriters, on the US$9.2 billion rights issue of China Construction Bank, the second largest bank in the world by market capitalization. This is the largest ever rights issue by an Asian issuer.
• CDH Investments on its US$900 million sale of shares in WH Group (288.HK). WH Group wholly owns Smithfield Foods, Inc., the largest pork producer and processor in the world. Morgan Stanley was the sole placing agent.
• UBS, Nomura, ABC International and Haitong International as the placing agents in Logan Property Holdings Company Limited’s placing of existing shares and subscription for new shares under the general mandate. Gross proceeds of the subscription will be approximately US$200 million.
• BOSC International (Bank of Shanghai) as sole sponsor on the US$15 million global offering and IPO of AP Rentals Holdings Limited (1496.HK), a Hong Kong equipment rental service company.
• Haitong International Securities Group Limited, a subsidiary of Haitong Securities Co., Ltd., on its US$150 million rights issue. Haitong International Holdings Limited and HSBC acted as the joint underwriters and Haitong International Securities Company Limited and HSBC acted as the joint global coordinators and joint bookrunners.
• Shenyin Wanguo Capital as sole sponsor and sole bookrunner on the US$45 million global offering and IPO of Niraku GC Holdings, Inc. (1245.HK), a Japanese company which is the fourth largest pachinko hall operator in Japan based on gross pay-in. At the time of listing, it was the second Japanese-incorporated company to obtain a primary listing approval in Hong Kong.
• CMB International Capital Limited as joint underwriter, joint global coordinator, joint bookrunner and financial advisor in Fosun International Limited’s US$1.5 billion rights issue.
• Deutsche Bank and BOCI Asia Limited as the underwriters in the approximately US$60 million global offering and IPO of Fulum Group Holdings Limited, a leading Chinese restaurant Chain with 64 branches in Hong Kong, on the Main Board of the Hong Kong Stock Exchange.
• Goldman Sachs, Citigroup and China Merchants Securities as the sponsors and placement agents in Tonic Industries Holdings Limited’s (now known as China Merchants Land Limited) (978.HK) deemed new listing on the Main Board of the Hong Kong Stock Exchange and the placing of new shares. The transaction involved highly complicated legal and regulatory issues, including a reverse takeover (RTO) involving a new listing application, a very substantial acquisition and connected transaction for Tonic Industries under the Hong Kong Listing Rules.
• Crosby Securities Limited and Shenyin Wanguo Capital as underwriters, on the US$22 million global offering and IPO of Hung Fook Tong on the Main Board of the Hong Kong Stock Exchange, a retailer of Chinese herbal drinks, soups and tortoise herbal jelly in Hong Kong.
• BOCOM International, Macquarie, First Shanghai Securities and GF Securities as the underwriters on the US$178 million global offering and IPO of Wuzhou International (1369.HK), a Jiangsu-based property developer and a leader in the development and operation of specialized wholesale markets in China.
• UBS as the financial adviser on the US$631 million rights issue of Fosun International, a Hong Kong-listed company with a focus on four main business areas including insurance, industrial operations, investments and assets management.
• Deutsche Bank, as the sole global coordinator, on the US$100 million global offering and IPO of Tsui Wah Restaurant, a leading Hong Kong-based restaurant chain owner that operates 26 restaurants in Hong Kong, mainland China and Macau, on the Main Board of the Hong Kong stock Exchange.
• Morgan Stanley, as the placing agent, on the US$124 million sell-down of shares of Intime Department Store, a large-scale department store chain based in PRC, by Warburg Pincus International Partners, L.P. and Warburg Pincus Private Equity IX, L.P. We also advised Morgan Stanley in an US$100 million earlier sell-down of shares of Intime Department Store in 2010.

Debt Capital Markets

• Immunotech Biopharm Ltd (HKEx: 6978) on its issuance of RMB300 million of convertible bonds under specific mandate, bearing an interest rate of 6% per annum and a maturity date of 3 years from the date of issuance.
• Guiyang Rongcheng Holding Group Co., Ltd. on its issuance of CNY 278 million 4.5%, due 2026 credit enhanced bonds in China (Shanghai) Pilot Free Trade Zone listed on the Chongwa (Macao) Financial Asset Exchange Co., Ltd.
• Guiyang Rongcheng Holding Group Co., Ltd. on its issuance of CNY 258 million 5.0%, due 2026 credit enhanced bonds in China (Shanghai) Pilot Free Trade Zone listed on the Chongwa (Macao) Financial Asset Exchange Co., Ltd.

Mergers and Acquisitions

• China Gate Investments Limited, an indirect subsidiary of Shougang Group, in the acquisition of the 728 million shares, approximately 10% of the total issued shares of Shoucheng Holdings Limited (HKEx: 0697) for HK$1.1 billion.
• International Alliance Financial Leasing (HKEx: 1563) in an acquisition of 70.00% of interests in Yantai Nanshan University, from Nanshan Holdings Co., Ltd. for a consideration of RMB 566 million, which constitutes an Extreme Transaction and a Connected Transaction under the Hong Kong Listing Rules.
• Infinities Global Technology Limited Partnership in an acquisition of approximately 49.00% of the issued shares in Infinities Technology International (Cayman) Holding Limited (formerly known as Jiu Zun Digital Interactive Entertainment Group Holdings Limited) (HKEx: 1961), which triggered the requirement to make a mandatory unconditional general offer (the “General Offer”) under the Hong Kong Takeovers Code.
• Edvantage Group Holdings Limited (HKEx: 0382) on its RMB 750 million (approximately US$117.5 million) acquisition of 51% equity interest in Sichuan New Concept Education Investment Co., Ltd, which holds the entire school sponsor’s interest in Sichuan Vocational College and Sichuan Technician College, and Chengdu Yude Logistics Management Co., Ltd. The acquisition constitutes a major transaction under the Hong Kong Listing Rules. This deal is recognised as "Deal of the Year: Education category" by China Business Law Journal 2022.
• Edvantage Group Holdings Limited (HKEx: 0382) on its acquisition of the entire equity interest in Guangdong Sun City Industrial Co., Ltd., which in turn wholly owns Guangdong Huashang Technical School, for a consideration of RMB150 million. The acquisition constitutes a connected transaction under the Hong Kong Listing Rules, and structured contracts have been entered into for effective control and enjoyment of the economic benefits generated. Guangdong Huashang Technical School is a private school in the PRC, which is principally engaged in the provision of secondary vocational training services.
• Hubei Port (Hong Kong) International Limited in the HK$1.98 billion acquisition of 74.81% of the total issued share capital of China Infrastructure & Logistics Group Ltd. (HKEx: 1719). The acquisition triggered an unconditional mandatory cash offer under the Hong Kong Takeovers Code and it involved a HK$200 million financing arrangement.
• Inner Mongolia Fuyuan International Industrial (Group) Co. Ltd. (“Fuyuan”) to entered into the sale and purchase agreement with China Modern Dairy Holdings Ltd. ( HKEx: 1117.HK), Inner Mongolia Mengniu Dairy (Group) Co., Ltd.  and others. Modern Farming acquired the entire equity interests in Fuyuan for RMB3.4 billion (approximately USD534 million).
• Tomorrow Education Technology Limited in an acquisition of approximately 75% of the issued shares in CTEH INC. (HKEx: 1620), a listed company of the Main Board of the Hong Kong Stock Exchange, for a consideration of HK$273 million, which triggered the requirement to make a mandatory unconditional general offer (the “General Offer”) under the Hong Kong Takeovers Code.
• Ourgame International Holdings Limited (HKEx: 6899) through its non-wholly owned subsidiary, Allied Esports Entertainment Inc. (NASDAQ: AESE), to sell its poker-related business, to Element Partners, LLC (the "Disposal"). The consideration of the Disposal amounted to US$105 million. The Disposal constitutes a very substantial disposal for the Company under Chapter 14 of the Listing Rules.