Davis Polk & Wardwell and King & Wood Mallesons are advising Chinese liquor company ZJLD Group on its planned $812 million IPO on the Stock Exchange of Hong Kong, with Cleary Gottlieb Steen & Hamilton and Haiwen & Partners acting for the underwriters.
The IPO is set to become Hong Kong’s largest this year
ZJLD makes baijiu, a colourless distilled spirit popular across China, reported Reuters, adding that baijiu is considered China’s national liquor and is the world’s most consumed liquor.
The Davis Polk team includes partners Li He, Jason Xu, Yang Chu and Ran Li. Conyers, Dill & Pearman are advising ZJLD on the offshore aspects of the transaction.