Six Han Kun-advised deals recognized as "Deals of the Year 2018" by China Business Law Journal
February, 2019 - Beijing, Mainland China
China Business Law Journal recently announced its "Deals of the Year 2018". Six Han Kun-advised deals were recognized as "Deals of the Year 2018".
They are:
- Innovent Biologics' Hong Kong IPO
KEY POINTS: Innovent Biologics is a China-based biopharmaceutical company, which develops and commercializes drugs. It was listed on the main board of the SEHK on 31 October 2018 and the net proceeds from the IPO amounted to about HK$3.156 billion (US$403.1 million) prior to the exercise of the over-allotment option.
- Meituan Dianping's Hong Kong IPO
KEY POINTS: Last September, Meituan Dianping, an e-commerce platform of life services, raised about US$4.2 billion from an IPO in Hong Kong. It was the second "new-economy" company, after Xiaomi, to go public in Hong Kong using a dual-class share structure.
- NIO's NYSE IPO
KEY POINTS: Chinese premium electric vehicle manufacturer NIO launched its US IPO for a listing on the New York Stock Exchange. In becoming the first Chinese electric vehicle company to list in the US, NIO raised approximately US$1 billion.
- Aurora Mobile's Nasdaq IPO
KEY POINTS: Aurora Mobile is a leading mobile big data solutions platform in China. In July 2018, it launched a US$77 million IPO of American Depositary Shares for a Nasdaq listing.
- iQiyi's Nasdaq IPO
KEY POINTS: iQiyi is the largest video and entertainment service platform in China, focusing on e-commerce, games, movie tickets, among other things. In March 2018, iQiyi listed on Nasdaq, raising US$2.25 billion, following the largest US IPO out of Asia in the first quarter of last year.
- China Literature's Hong Kong IPO
KEY POINTS: China Literature, Tencent’s eBook subsidiary, raised HK$8.3 billion (US$1.1 billion) in its IPO in Hong Kong. China Literature offered 151.4 million shares at HK$55 each, representing the top of the company's projected price range. The IPO was highly oversubscribed, as investors bid for 625 times the shares on offer, making it one of the most sought-after listings for investors in Hong Kong.
*The above deals are listed in the order of their IPO date with the most recent listed first and all the information is sourced from the website of China Business Law Journal (https://www.vantageasia.com).
China's economy faced tough challenges but still saw strong performance. In 2018, China Business Law Journal's editorial team selected outstanding deals and cases supported by remarkable legal efforts.
China Business Law Journal's Deals of the Year 2018, as in previous years, were chosen based on comprehensive factors, including the overall significance, complexity and innovative nature of the deals, while also taking into account the deal size and broader interests. China Business Law Journal's editorial team used their independent judgment to select the deals they felt were the shining stars for the year.
