Skadden, Freshies lead on HK’s largest IPO in 2023

news — *A Midea company sign is seen at the Appliance and Electronics World Expo (AWE) in Shanghai, China March 23, 2021. REUTERS/Aly Song*

U.S. law firm Skadden, Arps, Slate, Meagher & Flom and PRC firm Jia Yuan Law Offices are advising Chinese home-appliance maker Midea Group on its planned $1 billion initial public offering, expected to be the first billion-dollar IPO in Hong Kong this year.

Joint sponsors China International Capital Corp (CICC) and Bank of America are being represented by Freshfields Bruckhaus Deringer on Hong Kong and U.S. laws, and by King & Wood Mallesons on PRC laws.

The Freshfields team advising the joint sponsors is being led by partners Teresa Ko, Richard Wang and Howie Farn.

Skadden has advised on some prominent IPOs this year, including Asian courier service group J&T Global Express’ $501 million IPO on the HKEX, and Vietnamese internet company VNG’s debut on Nasdaq. The firm has also represented Keep Inc on its HKEX IPO and space startup ispace, Inc. in its nearly $50 million IPO on the Tokyo Stock Exchange.

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