Hong Kong Stock Exchange. Credit: Shutterstock Are Chinese Firms Sidelining Big Law on Hong Kong Listings Work?
The sole legal advisers to issuers on many Hong Kong Stock Exchange IPOs are Greater China-based law firms. Big Law can't compete with Chinese firms on fees and justify the low margins that come with the listings, which are much smaller than the billion-dollar deals they handled in the past.
April 25, 2024 at 09:31 PM
4 minute read
The original version of this story was published on Law.com International
The Hong Kong Stock Exchange (HKEX) currently has 90 active filings for initial public offerings. Of those, 18 issuer-hopefuls are being advised by Hong Kong and mainland China-based law firms only, giving Greater China-based firms a 20% market share for Hong Kong law advice, Law.com International research has found.
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