Skip to main content

Clifford Chance

Clifford Chance

News and awards

Clifford Chance advises on JD.com's US$3.87 billion Hong Kong IPO and Secondary Listing

  • en
  • zh
  • Language options

18 June 2020

Clifford Chance advises on JD.com's US$3.87 billion Hong Kong IPO and Secondary Listing

Leading international law firm Clifford Chance has advised the joint sponsors Bank of America, UBS and CLSA, and the underwriters on JD.com's US$3.87 billion (HK$30 billion) initial public offering (IPO) and secondary listing on the Hong Kong Stock Exchange. Nasdaq-listed JD.com is one of China's largest technology and e-commerce companies. JD.com's Hong Kong listing is expected to be the city's largest IPO, and the world's second largest this year.

China Co-Managing Partner Tim Wang, who led on the deal said, "We are honoured to advise on this landmark secondary listing, which highlights our market-leading expertise especially in technology and new economy sectors."

Partner Fang Liu, who co-led the deal commented, "Our unique combination of strong Hong Kong and US law capabilities in the region has contributed to the smooth execution of this Hong Kong secondary listing by Nasdaq-listed JD.com, which, unlike an ordinary IPO, required close coordination between a SEC registration process in the United States and the listing review in Hong Kong."

Tim, Fang and Hong Kong partner Christine Xu co-led the deal and were supported by a team in Hong Kong, Beijing and Shanghai including senior associates Claire Cao, Samson Chan, Yuling Geng and Erxin Lu, associates Qingqing Bu, Haoze Zheng, Tao Yang and Jeff Wong, and trainee Liying Liang.

Clifford Chance has advised on many of Hong Kong's largest and most significant IPOs, including China Tower's US$6.9 billion IPO, Budweiser Asia Pacific's US$5 billion IPO, and Xiaomi's US$4.7 billion IPO.
 

国际领先律师事务所高伟绅参与京东集团(JD.com)的38.7亿美元(300亿港元)香港首次公开发行和港交所第二上市并担任联席保荐人美银、瑞银和中信里昂及各承销商国际律师。京东集团已在美国纳斯达克上市,是中国最大的科技和电子商务公司之一。此次香港上市是今年迄今为止香港融资规模最大、全球第二大的首次公开发行。

本所项目牵头负责人中国区联席管理合伙人王彦峰律师表示:“我们很荣幸能够为这一具有里程碑意义的第二上市提供法律服务,该项目彰显了高伟绅业内领先的专业能力,尤其是在科技和新经济领域的雄厚实力。”

另一牵头负责人香港办公室合伙人方刘律师表示:“高伟绅在本地区拥有强大的香港法和美国法执业能力,凭借这一独特的结合,我们为京东香港第二上市的顺利执行提供有力支持。不同于一般香港上市项目,本交易涉及美国证监会注册程序和香港上市审查流程的密切联动。”

王律师、方律师和香港办公室合伙人许文嘉律师共同牵头负责该项目,香港、北京和上海办公室多位律师为本项目提供法律支持,包括曹阳、陈澍森、耿玉玲、陆尔馨、卜青青、郑镐泽、杨弢、王启尧及梁莉颖。

高伟绅曾参与众多融资规模巨大、有影响力的香港上市项目,包括中国铁塔(69亿美元)、百威亚太(50亿美元)以及小米集团(47亿美元)。