O'Melveny & Myers, Tian Yuan Law Firm and William Ji & Co. have represented China’s Simcere Pharmaceutical Group on its HK$3.57 billion ($460.6 million) Hong Kong IPO, with Herbert Smith Freehills and Jingtian & Gongcheng advising the joint sponsors.
Energy-focused U.S. law firm Baker Botts has become the latest firm to announce plans to shutter its Beijing office. The 13-year-old office currently has five partners and three associates.
Skadden, Arps, Slate, Meagher & Flom has advised China’s Huya on agreement to buy live game streaming peer DouYu International. Latham & Watkins has represented Tencent, which is Huya’s biggest shareholder and also owns more than a third of DouYu.
With the COVID-19 pandemic rendering offices empty (for the large part), and triggering new remote working policies and protocols, the future of the traditional office remains uncertain. And this has come at a time when virtual law firms – such as Rimon Law, which recently opened an office in Shenzhen – grow in prominence. However, some in the industry feel that working virtually may not be for everyone just yet.
Skadden, Arps, Slate, Meagher & Flom has advised Shanghai-based biopharmaceutical company JHBP (CY) Holdings, a holding company for Genor Biopharma, on its HK $2.87 billion ($371 million) IPO in Hong Kong, with Kirkland & Ellis representing the joint sponsors and the underwriters.
On Aug. 11, the Standing Committee of China’s National People’s Congress (NPC) passed a decision to implement pilot measures that will allow Hong Kong lawyers to practice in nine cities in the Greater Bay Area. Lawyers in Hong Kong and on the mainland say the measures provide more room for the professional development of Hong Kong lawyers, and facilitate the growth of legal services on the mainland.
Sidley Austin has advised Yum China Holdings on its HK$17.3 billion ($2.2 billion) secondary listing on the mainboard of the Stock Exchange of Hong Kong, with Freshfields Bruckhaus Deringer and Simpson Thacher & Bartlett counselling the sole sponsor, underwriters, joint global coordinators and bookrunners.
On Aug. 21, a group of WeChat users in the U.S. officially filed a lawsuit against President Trump’s executive order banning the usage of this app from Sept. 20. On Sept. 17, the federal court of San Francisco will hold the first hearing on a preliminary injunction concerning enjoining the government from enforcing the order.
Freshfields Bruckhaus Deringer and Jingtian & Gongcheng have advised Chinese bottled water and beverage company Nongfu Spring's on its $1.08 billion initial public offering on the Hong Kong Stock Exchange, with Clifford Chance and Tian Yuan Law Firm representing the joint sponsors and underwriters.
Simpson Thacher & Bartlett and Fangda Partners are advising Chinese fintech firm Ant Group on its planned $30 billion initial public offering in Hong Kong and Shanghai, with Freshfields Bruckhaus Deringer and King & Wood Mallesons counselling the joint sponsors.
Kim & Chang and Gibson, Dunn & Crutcher are representing China’s Anbang Insurance Group in a lawsuit before the Delaware Chancery Court over a terminated $5.8 billion deal to sell 15 U.S. luxury hotels to South Korea’s Mirae Asset Global Investments, according to a report in the Korea Times.