With a strong team of New York and locally-qualified practitioners based in Hong Kong and also able to leverage significant resources on the mainland, Kirkland & Ellis is a popular choice among issuers and underwriters on Hong Kong listings and follow-on offerings, as well as US IPOs and Rule 144A and Regulation S offerings. SPAC-related work is a strength for the firm and in spite of economic headwinds dampening investor demand, the firm advised Vision Deal HK Acquisition Corp on one of the earliest and relatively rare SPAC IPOs following the liberalisation of the market. Team head David Zhang had a key role on this matter and has also been active handling a number of de-SPAC mandates. Mengyu Lu, who has also been active handing SPAC transactions as well as efforts to fashion a regulatory framework in Hong Kong for the listings of SPACs and potential de-SPAC transactions, has a booming Hong Kong IPO practice, helping many Chinese companies, including within new economy sectors, to list.

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Key clients

L Catterton Asia Acquisition Corp.
UBS AG Hong Kong Branch, Morgan Stanley Asia Limited and China International Capital Corporation
Asia Innovations Group Ltd.
POEMA Global Holdings Corp.
TH International Ltd.
Artisan Acquisition Corp.
Wynn Macau, Limited
Hypebeast Ltd.
Yunkang Group Limited
Vision Deal HK Acquisition Corp.
Clover Biopharmaceuticals, Ltd.
China International Capital Corporation Hong Kong Securities Limited and China Securities (International) and Corporate Finance Company Limited
Alphamab Oncology
Noah Holdings Limited
Citigroup Global Markets Asia Limited and China International Capital Corporation Hong Kong Securities Limited
Joy Spreader Group Inc.
Super Hi International Holding Ltd.

Work highlights

Advised TH International Limited (Tims China), the master franchisee and operator of Tim Hortons coffee shops in China, on its business combination with Silver Crest Acquisition Corporation, a publicly-traded SPAC.
Advised Yunkang Group, a leading medical operation service provider in China that offers a full suite of diagnostic testing services for medical institutions, on its approximately $140m global offering and listing on The Stock Exchange of Hong Kong Limited.
Advised SPAC, Vision Deal HK Acquisition Corp, on its listing of shares and warrants on the Hong Kong Stock Exchange. This marks the second Hong Kong SPAC listing, the first Hong Kong SPAC listing led by promoters with substantial entrepreneurial and private equity background, and the largest Hong Kong SPAC listing by offering size at the time of listing

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