Skadden, Jia Yuan Law Offices, Freshfields Bruckhaus Deringer and King & Wood Mallesons have acted on Midea Group’s HKD31 billion (USD3.98 billion) listing, Hong Kong’s biggest IPO in the past three years.
The offering was priced at HKD54.8 apiece, reaching the upper limit set in the prospectus, and offered 73.82 million additional shares.
Skadden advised the Midea Group on Hong Kong and US law while Jia Yuan’s founding partner Xu Ying and senior partner Liu Xing acted as PRC counsel.
Freshfields acted as Hong Kong and US counsel to the joint sponsors, CICC and BofA Securities. Its team was led by China chairman Teresa Ko, head of China ECM Richard Wang and partner Howie Farn.
KWM’s leading partners Gong Mulong, Su Zheng and Huang Xiaoxue acted as PRC counsel to the joint sponsors.
The HKEX filings show that 18 cornerstone investors, including COSCO Shipping Holdings, UBS AM Singapore and BYD, have collectively committed nearly USD1.26 billion.
Midea Group is a home appliance giant in China.
