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Clifford Chance advises on hotpot chain Haidilao's US$964 million IPO

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26 September 2018

Clifford Chance advises on hotpot chain Haidilao's US$964 million IPO

Leading international law firm Clifford Chance advised the joint sponsors and underwriters including CMB International, Goldman Sachs and CICC on Haidilao's US$964 million (HK$7.56 billion) global offering of 424,530,000 shares on the main board of the Hong Kong Stock Exchange (HKEX). Haidilao is a globally leading and fast-growing Chinese cuisine restaurant brand focusing on hot pot cuisine.

China Co-Managing Partner Tim Wang led on the deal with partners Virginia Lee and Jean Thio. They were supported by counsel Tianning Xiang, senior associates Claire Cao and Gehuan Liu, associate Vicky Zheng, and trainees Luyi Jiao, Lin Shang and Peng Jiwen.

Tim said, "We are honoured to be working on this listing for Haidilao. This underscores our work on the most significant listings globally by Chinese companies as they seek funds to expand and grow their businesses. In particular, the consumer goods and retail sector has expanded exponentially with the rising middle class in China."

In recent months, Clifford Chance has acted on headline listings by Chinese companies in Hong Kong including China Tower's for US$6.9 billion and Xiaomi Corporation's for US$5.4 billion.