Clifford Chance

Clifford Chance advises on two successful new share placements for China's tech companies in Hong Kong, raising over HK$3 billion

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:

• SenseTime Group Inc, a leading AI company in China, on the successful placing of 1,666,667,000 new Class B shares, representing approximately 4.38% of the number of issued Class B Shares and raising approximately HK$2.5 billion.
• InnoScience (Suzhou) Technology Holding Co., Ltd., the world’s largest Gallium Nitride power semiconductor manufacturer, on the successful placing of 13,584,000 new H Shares, representing approximately 2.69% of the H Shares issued and raising approximately HK$544 million.

Lead partner of the two transactions, Fang Liu said, "These transactions underscore the remarkable momentum and innovation driving China’s tech companies. The successful outcomes reflect our team’s deep expertise and commitment to supporting our clients’ objectives."

Counsel Janet Fok and senior associate Anson Wong assisted Fang on the SenseTime transaction.

Counsel Jing Jing assisted Fang on the InnoScience transaction. Amber Bian from Shanghai He Ping Law Firm* provided additional support.

Clifford Chance previously advised Marketingforce and Black Sesame on their respective new share placements.

* 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.