Skadden, Arps, Slate, Meagher & Flom has advised Yixin Group, China’s largest online car retailer, on its $867 million initial public offering in Hong Kong, with Freshfields Bruckhaus Deringer acting as legal adviser to the joint sponsors and underwriters.

Chinese firms Han Kun Law Offices and Jingtian & Gongcheng were also involved, acting as advisers on PRC law to Yixin and the joint sponsors and underwriters, respectively. Offshore firm Maples and Calder counseled Yixin on Cayman Islands law.

Yixin, which his backed by Chinese internet giants Tencent, and Baidu, gained as much as 32 percent on its trading debut on Thursday, benefiting from rising enthusiasm for technology stocks in the Asian financial hub, reported Reuters.

Yixin’s debut is the latest in a string of technology share offerings in Hong Kong, which have been generating strong retail investor demand.

On Monday, Razer surged 18 percent in its Hong Kong stock market debut, after raising about $500 million in an IPO, and last week, China Literature the e-book unit of Tencent, saw its shares surge more than 80 percent in its debut, marking the biggest first-day gain for a large IPO globally this year.

The Skadden team included partners Julie Gao, Christopher Betts and Will Cai in Hong Kong, as well as Haiping Li in Shanghai.

Hong Kong-based partners Grace Huang and Calvin Lai led the deal for Freshfields.

Related Articles

Skadden advises Cemex on $650 mln Philippines divestment

by Nimitt Dixit |

U.S. law firm Skadden, Arps, Slate, Meagher & Flom has advised Mexico-based multinational building materials company Cemex on the sale of its operations and assets in the Philippines to Dacon Corporation, DMCI Holdings, and Seminara Mining and Power Corporation.

Skadden, AMT, MHM, Davis Polk advise on Trial Holding’s $258 mln Japan IPO

by Nimitt Dixit |

Skadden, Arps, Slate, Meagher & Flom and Anderson Mori & Tomotsune have advised Japanese discount-store chain operator Trial Holdings on its $258 million initial public offering on the Tokyo Stock Exchange (TSE), the largest IPO of the year so far.

Skadden, Hogan Lovells guide $1 bln TDCX take-private deal

by Nimitt Dixit |

U.S. law firm Skadden, Arps, Slate, Meagher & Flom has advised billionaire Laurent Junique, the founder and CEO of TDCX, in his move to take the company private at an equity valuation of approximately $1.037 billion.