Clifford Chance

Clifford Chance advises leading auto chip maker Black Sesame on its Chapter 18C listing in Hong Kong

Global law firm Clifford Chance has advised Black Sesame International Holding Limited (Black Sesame) on its initial public offering and Chapter 18C listing on the Main Board of the Hong Kong Stock Exchange.

A leading provider of automotive-grade system-on-chips (SoC) in China which enable advanced intelligent vehicle functionalities centred around autonomous driving, Black Sesame is the first Commercial Company to list under the Exchange's Chapter 18C listing regime for Specialist Technology Companies, and the first semiconductor company to do so. It was also the inaugural applicant when the Exchange launched Chapter 18C in 2023.

Partner Fang Liu said, "We are proud to have advised Black Sesame on their Chapter 18C listing as the issuer's counsel. This is another landmark transaction which demonstrates our team's strong capabilities in assisting hard tech companies specialising in areas including semiconductors, AI, intelligent vehicles and new energy. This shows that Hong Kong's Chapter 18C listing regime for Specialist Technology Companies is facilitating high-tech investments, and is a testament to the major technological and commercialisation strides made by autonomous driving firms in recent years."

Fang co-led the transaction with partner Virginia Lee, with support from counsel Janet Fok, senior associates Haoze Zheng and Tao Yang, and associates Jason Ng, Ashley Sun, Elaine Lau, Sabrina Leung and Xavier Chan.

Clifford Chance regularly advises on major transactions enabling the growth of innovative technology companies in China, such as the IPOs of Chenqi Technology, RoboSense, Leapmotor, SenseTime and AInnovation.