Legal Advisors to Midea Group Legal Advisors to the joint sponsors and underwriters Midea Group’s HK$26.97 Billion Share Offering in Hong Kong DEAL BRIEF COMMENTS: SHIHUI PARTNERS ADVISORS TRANSACTION REPORTS 67 Midea Group, the prominent Chinese home appliance manufacturer, has successfully launched a HK$26.97 billion ($3.46 billion) share offering in Hong Kong. This surpasses JD Logistics $3.16 billion raise in May 2021 making it the largest listing in the city in over 3 years. This listing also significantly overshadows the HK$1.3 billion offering by Chinese lithium battery maker CALB in October 2022. The offering was backed by joint sponsors and underwriters including China International Capital Corporation, Merrill Lynch, UBS, CLSA, and Goldman Sachs. Freshfields Bruckhaus Deringer and King & Wood Mallesons (KWM) represented the sponsors and underwriters in this high-profile transaction. This landmark offering is a significant milestone for Hong Kong’s capital markets, highlighting the city’s capacity for large-scale public offerings even amidst a challenging global financial environment. Midea Group received legal counsel from Skadden, Arps, Slate, Meagher & Flom, Jia Yuan Law Offices, and Shihui Partners. Shihui Partners also played a crucial role in supporting Midea Group throughout the transaction. Freshfields Bruckhaus Deringer’s team advising the underwriters was led by China Chairman Teresa Ko, Head of China ECM Richard Wang, and partner Howie Farn. The KWM team, advising the sponsors, was led by partners Gong Mulong, Su Zheng, and Huang Xiaoxue. “We are delighted to support Midea Group on its listing in Hong Kong. We provided legal advice on Midea Group’s data and privacy compliance, especially for Midea Group’s fast-growing digital business. Congratulations to Midea Group and good luck in stock market growth.” www.shihuilaw.com
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