Clifford Chance has successfully advised on two major new share placements on the Hong Kong Stock Exchange, helping Marketingforce Management Ltd. and Black Sesame International Holding raise substantial capital.
Marketingforce, a leading provider of SaaS marketing and sales solutions in China, successfully placed 20,105,800 new shares, representing approximately 7.85% of the company’s issued share capital. The placement raised HK$1,206 million in gross proceeds.
Black Sesame International Holding, a prominent provider of automotive-grade system-on-chips (SoC) in China, completed the successful placement of 53,650,000 new shares, representing approximately 8.53% of its issued share capital. The gross proceeds raised amounted to HK$1,244 million.
Clifford Chance's Expert Legal Team
The legal team at Clifford Chance played a crucial role in both transactions. Partners Tim Wang and Fang Liu led the teams advising on these placements.
These successful transactions highlight the dynamic growth of China’s new economy companies, showcasing innovation in the SaaS and automotive semiconductor industries. Clifford Chance’s legal expertise and commitment were instrumental in achieving these milestones.
Previous Advisory Roles in IPOs
This is not the first time Clifford Chance has worked with Marketingforce and Black Sesame. The firm previously advised both companies during their Hong Kong IPOs and listings in 2024, establishing a long-term relationship with both firms.
Clifford Chance is a global law firm, established over 100 years ago, renowned for its expertise in banking, corporate law, finance, dispute resolution, and tax. With offices worldwide, it serves clients including corporations, financial institutions, governments, and not-for-profits. The firm delivers high-quality legal advice, combining global standards with local expertise, and strives to exceed client expectations by providing innovative solutions across all sectors.
