Clifford Chance, Jingtian & Gongcheng, Paul Hastings and Tian Yuan Law Firm have assisted on Chinese cosmetic company Mao Geping’s HKD2.3 billion (USD294 million) IPO on the SEHK.
The Clifford Chance team, which was led by chair of the China practice Tim Wang and partners Jean Thio and Xiang Tianning, advised the issuer on Hong Kong and US law. Jingtian & Gongcheng acted as the issuer’s PRC legal counsel.
CICC, China Galaxy International, Huatai International, Guotai Junan International and CCB International were the underwriters of this listing. Paul Hastings advised them on Hong Kong and US law, with its team led by Raymond Li, the firm’s chair of Greater China, and partners Fan Chaobo, Steven Hsu and Crystal Liu.
Tian Yuan senior partner Wang Xiangping from the Beijing office and Lan Zhiwei, managing partner of the firm’s Guangzhou branch, led the team advising the underwriters’ on PRC law.
Well-known makeup artist Mao Geping started the company with his name in 2000. According to the prospectus, the Mao Geping enterprise is the only Chinese company among the top 15 premium beauty brands in the PRC market. Its net profit increased from RMB331 million (USD45.5 million) in 2021 to RMB663 million in 2023, representing a compound annual growth rate of 41.6%.
