Clifford Chance

Clifford Chance advises on two successful share placements for consumer companies in China

Global law firm Clifford Chance has advised on the successful share placements on the Main Board of the Hong Kong Stock Exchange for two well-known consumer companies in China. The firm advised:

• Laopu Gold Co., Ltd. (Laopu Gold), a luxury jewellery retailer in China, on the successful placing of 4.31 million new H shares on 7 May 2025, raising gross proceeds of HK$2,715.30 million.
• Weilong Delicious Global Holdings Ltd (Weilong Delicious), a popular snack company in China, on the successful placing of 80 million existing H shares and top-up subscription on 8 May 2025, raising gross proceeds of approximately HK$1,177.60 million. Clifford Chance had previously advised on the IPO of Weilong Delicious.

Chair of China Practice and the lead partner on both transactions, Tim Wang said, "The success of these transactions highlight the continued investor interest in China's homegrown consumer companies. We are honoured that Laopu Gold and Weilong Delicious leaned on our team's Greater China ECM expertise and US law capabilities as they raise capital for their next stage of growth. We wish them every success in the future."

The team advising Laopu Gold includes counsel Wei Liang and Jing Jing, associates Yilin He and Jingyi Zhang. Counsel Yuling Geng advised on US law aspects. Legal analysts Carson Lin and Amber Bian from Shanghai He Ping Law Firm* provided additional support.

The team advising Weilong Delicious includes counsel Dayan Jiang and legal specialist Zhao Wang. Partner Jefferey LeMaster (New York), counsel Yuling Geng and associate Emily Picard (New York) advised on US law aspects. Legal analyst Jenny Bao from Shanghai He Ping Law Firm* provided additional support.

These transactions builds on the firm's market-leading track record advising on the significant equity capital markets transactions of some of China's best known consumer companies, having recently advised on the equity fundraisings of tea beverage company Auntea Jenny, Mao Geping Cosmetics, and toymaker Bloks Group.

*Clifford Chance LLP and Shanghai He Ping Law Firm have established a Joint Operation in the China (Shanghai) Pilot Free Trade Zone under the name Clifford Chance LLP and Shanghai He Ping Law Firm (FTZ) Joint Operation Office with the approval of the Shanghai Bureau of Justice.