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, JD.com 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.

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