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Clifford Chance

Clifford Chance
News and awards

News and awards

Clifford Chance advises Xiaocaiyuan on its IPO and listing in Hong Kong

20 December 2024

Clifford Chance advises Xiaocaiyuan on its IPO and listing in Hong Kong

Global law firm Clifford Chance has advised leading Chinese chain restaurants company, Xiaocaiyuan International Holding Limited on its initial public offering and listing on the Main Board of the Hong Kong Stock Exchange. The IPO raised approximately US$ 110 million.

Xiaocaiyuan is one of the renowned self-operated chain restaurants in China’s mass Chinese cuisine market. In terms of revenue for 2023, Xiaocaiyuan ranked first among all brands in China’s mass Chinese cuisine market with average spending per consumer between RMB50 and RMB100. Xiaocaiyuan has been committed to providing consumers with homemade-style dishes and great customer services at affordable prices through self-operated chain restaurants.

Tim Wang, Chair of China practice co-led the deal with partners Tianning Xiang and Jean Thio, with support from counsel Claire Cao and Qingyu Wu, senior associates Yuanyuan Cai and Ran Bi, associates Cathy Qian and Xiao Tang, trainee solicitor Jin Qin and legal specialist Janssen Yang.

Tianning said, "We are very pleased to have assisted Xiaocaiyuan on its successful listing. This listing will pave the way for the company to expand its restaurant networks, strengthen its supply chain capabilities and promote its information technology capabilities. This transaction highlights our firm's deep expertise in capital markets and our China coverage.  In particular, it builds on our track record of advising homegrown food and beverage companies in the region on transactions that facilitate their business expansion."

Clifford Chance has advised on multiple IPO listings involving major food and beverage companies in China, including Haidilao, China Resources Beverage, ChaPanda and Guoquan Food Shanghai Co Ltd.

高伟绅助力连锁中式餐饮龙头企业小菜园香港IPO和上市

国际领先律师事务所高伟绅就连锁中式餐饮龙头企业小菜园国际控股有限公司(“小菜园”)在香港联交所主板的首次公开发行和上市,担任小菜园的国际法律顾问,本次IPO募资约1.1亿美元。

小菜园是知名中国大众便民中式餐饮市场直营连锁餐厅之一,就2023年的门店收入而言,小菜园在客单价介乎人民币50元至人民币100元的中国大众便民中式餐饮市场的所有品牌中排名第一,其一直致力于以实惠的价格为消费者提供家常风味的菜肴和周到的服务。

本交易由中国业务主席王彦峰、合伙人向天宁和张珮真共同领导,由包括曹阳、吴擎宇、蔡元圆、毕然、钱超、唐潇、秦晋和杨森在内的IPO团队提供支持。

向天宁律师表示:"我们非常高兴能够为小菜园的成功上市提供法律服务。本次上市将为公司持续扩大门店网络、增强供应链能力、升级智能设备及数字化系统铺平道路。本交易充分彰显了高伟绅在资本市场和大中华地区深厚的专业能力,尤其是进一步夯实了本所为本土餐饮品牌拓展业务提供法律服务的领先执业实力。"

高伟绅也曾深度参与其他餐饮行业的重大交易,包括海底捞华润饮料茶百道和锅圈的香港IPO和上市。