Harneys completes two Hong Kong IPOs today
Harneys Hong Kong has today completed the initial public offering of the shares of China Feihe Limited, one of the largest IPOs in Hong Kong this year, raising in excess of US$855 million. China Feihe is a Beijing-based company and is the country’s largest infant formula milk producer. In addition to Harneys’ involvement in the IPO, the firm’s Trust team advised on the establishment of family trusts for certain substantial shareholders of China Feihe, and Harneys Trustees Limited is engaged as the professional trustee of the aforementioned family trusts.
The team has also completed Sprocomm Intelligence Limited’s Hong Kong IPO on the same day. Sprocomm designs, manufactures, and sells mobile phones across Asia. It raises approximately US$16 million from the IPO.
Harneys Partner Raymond Ng commented: “Harneys’ Corporate team is known for its significant track record, particularly on Hong Kong IPOs. We are delighted to have acted on these deals which highlight the expertise and capability of our Hong Kong practice, and are thankful to have worked alongside some prominent Hong Kong lawyers.”
The China Feihe’s IPO was led by Raymond and Legal Manager Nicholas Fong, and assisted by Legal Manager Denise Chan and Associate Annie Liu. Senior Associate Henno Boshoff advised on the establishment of the family trusts. The Sprocomm’s IPO was led by Raymond and Associate Annie Liu, and assisted by Legal Managers Denise Chan and Nicholas Fong.