Ant Group's Blockbuster IPO and Other Deals: Asia's October Deal Digest
Chinese, U.S. and U.K. firms score on the largest IPO ever; Skadden, Davis Polk and Kirkland on deals from China, Japan and India.
October 28, 2020 at 07:41 AM
6 minute read
China/Hong Kong
Five firms have scored key roles as advisors to Ant Group's $34.4 billion dual-listing in Hong Kong and Shanghai, the largest initial public offering in history. The Hangzhou-based fintech giant and affiliate of Alibaba Group $17.2 billion on the Shanghai Stock Exchange Science and Technology Innovation Board and the Hong Kong Stock Exchange, respectively. Ant Group's shares are expected to start trading on Nov. 5. Simpson Thacher & Bartlett Hong Kong partners Celia Lam and Daniel Fertig are advising on U.S. and Hong Kong law on the Hong Kong listing, while Fangda Partners is serving as Chinese counsel. Freshfields Bruckhaus Deringer Hong Kong partner Teresa Ko is representing the underwriters on the Hong Kong listing with King & Wood Mallesons as Chinese counsel. Sullivan & Cromwell Hong Kong partners Kay Ian Ng and Garth Bray and New York partner Isaac Wheeler are acting as counsel to the pre-IPO investors group in Hong Kong. On the Shanghai listing, Ant is represented by Fangda's Shanghai partners Leo Lou and Beijing partner Jeffrey Ding while the underwriters are advised by King & Wood Mallesons Beijing partners Su Zheng and Jian Zhihui. Ant's current general counsel, Jonathan Zhou, joined the firm in June from Fangda, where he had practiced for more than 20 years. Leiming Chen, Ant's senior vice president and former general counsel was a partner at Simpson Thacher until 2016. [Read Full Story]
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Law Firms Mentioned
- Nishimura & Asahi
- Tian Yuan Law Firm
- Cleary Gottlieb Steen & Hamilton
- Simpson Thacher & Bartlett
- Haiwen & Partners
- Davis Polk & Wardwell
- King & Wood Mallesons
- Anderson Mori Tomutsune
- Sullivan & Cromwell LLP
- Jingtian & Gongcheng
- Zhonglun W&D Law Firm
- Freshfields Bruckhaus Deringer
- Fangda Partners
- Skadden, Arps, Slate, Meagher & Flom LLP
- Kirkland & Ellis
- Latham & Watkins
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