Cleary Gottlieb Steen & Hamilton and JunHe have advised Chinese hotel management company Huazhu Group on its $783 million secondary listing on the Hong Kong Stock Exchange, with Freshfields Bruckhaus Deringer and Jingtian & Gongcheng representing the underwriters.

Huazhu Group, which has listed 20.4 million shares on the HKEX, is the latest U.S.-listed company to undertake a secondary listing in Hong Kong, following the offerings of Yum China Holdings, Zai Lab and ZTO Express.

Huazhu Group is a fast-growing multi-brand hotel group in China with international operations. By the end of 2019, it was China's second largest hotel group, and the world's ninth largest in terms of number of hotel rooms operated, according to industry research.

The Freshfields team was led by partners Wang Changshun, Lai Zhicheng, Michael Levitt, Richard Wang and Calvin Lai.


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