U.S. law firm Latham & Watkins and the PRC’s Dahui Lawyers have advised Asian courier service group J&T Global Express on its $501 million initial public offering on the Hong Kong Stock Exchange (HKEX), the second-largest listing on the bourse this year.
New York-headquartered Skadden, Arps, Slate, Meagher & Flom advised the underwriters led by Morgan Stanley, BofA Securities and China International Capital Corp on Hong Kong and US law. PRC advisory to the underwriters was provided by Han Kun Law Offices and Commerce & Finance Law Offices.
Tencent-backed J&T Global was also guided by a string of firms in Southeast Asia on local compliance issues across the region. Hutabarat Halim & Rekan in Indonesia, Vilaf in Vietnam, Rahmat Lim & Partners in Malaysia, SyCip Salazar Hernandez & Gatmaitan in the Philippines, and Weerawong, Chinnavat & Partners in Thailand advised on the IPO.
The Skadden team advising the underwriters was led by partners Haiping Li (Hong Kong/Shanghai), Paloma Wang (Hong Kong) and Yuting Wu (Shanghai).
The Latham team was led by Hong Kong corporate partners Frank Sun, Benjamin Su, Terris Tang and Cathy Yeung, with tax advice provided by New York partner Bora Bozkurt.
J&T Global will use the gross proceeds to develop logistics networks and warehouse capacity in Southeast Asia, expand to new markets and fund research and development, among other uses.