Deals and Client Wins Maples Group Supports JD.com and NetEase on the Largest Hong Kong Dual Listings of 2020

17 Jul 2020

请点击此处查看简体中文版本

 

The Maples Group is pleased to announce that its Hong Kong office has acted on two high profile Hong Kong dual listings, which are expected to be among the largest offerings in the region this year. The Group's unique ability to provide Cayman Islands and British Virgin Islands legal advice through its international law firm, Maples and Calder, in addition to its ability to act as a share registrar through its funds services business, has made the Group the perfect choice for international businesses considering initial public offerings or dual listings in Hong Kong.

 

Notably, the Group's law firm acted as Cayman Islands counsel to JD.com, Inc. ("JD.com") on its recent global offering and dual listing on the Hong Kong Stock Exchange.  JD.com is the largest retail company in China by total revenues in 2019, according to Fortune Global 500 and has been listed on Nasdaq since May 2014. The offering, which closed on 18 June 2020, raised approximately HK$30.1 billion and is the largest in Hong Kong in 2020.

 

The Group's law firm also recently provided Cayman Islands legal advice on an equally significant global offering and dual listing on the Hong Kong Stock Exchange for NetEase, Inc ("NetEase"). NetEase has been listed on Nasdaq since June 2000, and is the second largest mobile game company in the world. The offering, which closed on 11 June 2020, raised approximately HK$21 billion and is currently the second largest offering in Hong Kong this year.

 

Teams based in the Group's law firm in Hong Kong advised both JD.com and NetEase. Corporate Partner, Richard Spooner, Of Counsel, Karen Zhang Pallaras and Associate, Vivian Lee acted for JD.com, while Richard Spooner and Associate, Mindy Ho acted for NetEase.

 

The Maples Group's fund services business in Asia led by its Regional Head Eastern Fong and Vice President Christy Poon, provided Cayman Islands share registrar support to both companies.

Commenting on the two successful listings, head of Maples and Calder's Corporate Practice in Asia, Matt Roberts said, "Hong Kong continues to be a leading destination for dual listings, IPOs and other public offerings, attracting major international companies and investors, and we were delighted to assist our clients, JD.com and NetEase with their recent dual listings. These listings are very positive for the region and set Hong Kong on course to becoming the global IPO leader again this year."

These deals are the latest in a long line of public offerings, both in Hong Kong and the United States, where the Maples Group has been selected for its comprehensive capabilities and expertise by clients in a wide range of sectors, including the technology, online gaming, telecommunications, biotechnology, pharmaceutical, medical and education sectors.

Skadden, Arps, Slate, Meagher & Flom acted as Hong Kong and US counsel and Shihui Partners acted as PRC counsel respectively to JD.com, whilst Clifford Chance acted as Hong Kong and US counsel and Han Kun Law Office acted as PRC counsel respectively to the underwriters, Merrill Lynch, UBS and CLSA.

Skadden, Arps, Slate, Meagher & Flom acted as Hong Kong and US counsel and Zhong Lun Law Firm acted as PRC counsel respectively to NetEase, whilst Davis Polk & Wardwell acted as Hong Kong and US counsel and JunHe LLP acted as PRC counsel respectively to the underwriters, CICC, Credit Suisse and J.P. Morgan.

 

CONTACTS

bioImage

Eastern Fong

Regional Head of Fund Services - Asia

+852 3655 9005

bioImage

Matt Roberts

Partner

+852 3690 7405

bioImage

Mindy Ho

Associate

+852 3690 7473

bioImage

Richard Spooner

Partner

+852 2971 3046

bioImage

Mark Western

Managing Partner

+852 3690 7407

bioImage

Christy Poon

Vice President - Senior Account Manager

+852 3655 9021

bioImage

Karen Zhang Pallaras

Of Counsel

+852 3690 7432

bioImage

Vivian Lee

Associate

+852 3690 7513

*
*
*
*


Please note that your email may be received and read by other Maples Group employees in addition to your intended recipient.

The use of this form does not create an attorney-client relationship and information submitted will not necessarily be treated as privileged or confidential, nor will it prevent us from accepting related instructions on behalf of others. Do not send us any information regarding any current or potential legal matters until your proposed engagement of us as legal counsel has been agreed and confirmed by us in writing.

*
*
*

Please note that your email may be received and read by other Maples Group employees in addition to your intended recipient.

Related

Deals

Maples Advises on Restructuring Deal of the Year 2020

Maples and Calder, the Maples Group’s law firm, was pleased to advise the 10.5% noteholder of the Seven Energy Group in relation to the 2019 Seven Energy debt restructuring.  A complex and noteworthy matter, the transaction received recognition at the IFLR Sub-Saharan Africa Awards, winning Restructuring Deal of the Year 2020. 

Read more

14 Sep 2020

Announcements

Maples Group Partner Wins 'Rising Star' Award at European Women in Business Law Awards

Maples and Calder LLP, the Maples Group's law firm in Dublin, is proud to announce that one of its Partners, Niamh O’Shea, has been recognised as a 'Rising Star' at the Euromoney European Women in Business Law Awards 2020. 

Read more

11 Sep 2020

Announcements

Maples Group Appoints Stephen McLoughlin as Head of Finance Practice in Ireland

Maples and Calder LLP, the Maples Group's law firm in Ireland, is pleased to announce the appointment of Stephen McLoughlin to head of its Finance practice in Ireland, effective 1 July 2020.  Stephen succeeds Nicholas Butcher, Managing Partner of the law firm in Ireland who has been acting as head of the practice for the last 18 months. Nicholas continues in his role as Managing Partner.

Read more

03 Sep 2020

Connect

Want to get in touch ?

Contact Us