Clifford Chance

Clifford Chance advises on two successful new share placements for China's new economy companies in Hong Kong

Global law firm Clifford Chance has advised on two successful new share placements on the Main Board of the Hong Kong Stock Exchange. The firm advised:

• Marketingforce Management Ltd (Marketingforce), a leading provider of marketing and sales SaaS solutions in China, on the successful placing of 20,105,800 new shares, representing approximately 7.85% of the issued share capital of the company. Marketingforce raised gross proceeds of approximately HK$1,206 million.
• Black Sesame International Holding International (Black Sesame), a leading provider of automotive-grade system-on-chips (SoC) in China, on the successful placing of 53,650,000 news shares, representing approximately 8.53% of the issued share capital of the company. Black Sesame raised gross proceeds of approximately HK$1,244 million.

Partners Tim Wang and Fang Liu said, "These transactions highlight the dynamic growth and innovation of China's new economy companies. Our team's expertise and dedication were instrumental in achieving these milestones, and we look forward to supporting Marketingforce's and Black Sesame's continued success."

Tim, who is also Chair of the firm's China Practice, led the team advising Marketingforce, with support from Shanghai senior associate Xuemei Wang, associate Ashley Sun, and legal analyst Avery Zhu.

Fang Liu led the team advising Black Sesame, with support from Hong Kong senior associates Jason Ng, Carson Wong and Haoze Zheng.

Clifford Chance previously advised Marketingforce and Black Sesame on their respective Hong Kong IPOs and listings in 2024.