Clifford Chance

Clifford Chance advises on Shanghai Chicmax Cosmetic’s Hong Kong IPO and Listing

Leading international law firm Clifford Chance has advised cosmetics company Shanghai Chicmax Cosmetic Co., Ltd. on its HK$1.1 billion (US$141.5 million) initial public offering and listing on the main board of the Hong Kong Stock Exchange.

Partners Christine Xu and Jean Thio jointly led the deal with support from counsel Samson Chan, senior associate Wu Qingyu, associates Tania Chan, Belinda Cai and Yuan Cao and trainee Jasper Zhou.

Christine commented, “Congratulations to Shanghai Chicmax on this significant milestone transaction, which highlights the growth potential of China's homegrown domestic retailers and consumer brands.”

Shanghai Chicmax is one of China's leading multi-brand cosmetics companies, focusing on the development, manufacturing and sales of skincare, maternity and childcare products. Its brands include cosmetics brand KANS, skincare range One Leaf, and Baby Elephant products for mother and child. Shanghai Chicmax is the only Chinese domestic cosmetics company with two skincare brands each achieving annual retail sales of more than RMB1.5 billion and ranked among the top five Chinese domestic cosmetics companies for seven years from 2015 to 2021.

The firm's track record in the consumer and retail industries includes the IPOs of Giant Biogene (collagen-based professional skincare products), UNQ Holdings Limited (e-commerce retail and wholesale solutions provider) and Weilong Delicious (leading spicy snack food company in China).