Ant Group IPO first major casualty as China tightens regulations on online micro-lending

BY Hu Yangxiaoxiao 胡阳潇潇 |

In early November, Ant Group’s planned $37-billion blockbuster dual listing in Shanghai and Hong Kong was brought to a halt by financial regulators. In the same day, Chinese regulators also published draft rules to boost the oversight of online micro-lending.

China slams the brakes on Ant Group's $37 billion listing

BY Reuters |

China suspended Ant Group’s $37 billion listing on Tuesday, thwarting the world’s largest stock market debut with just days to go in a dramatic blow to the financial technology firm founded by billionaire Jack Ma.

OMM, HSF advise on Chinese pharma firm’s $461 mln HK IPO

BY Aparna Sai |

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.

Baker Botts becomes latest international firm to announce Beijing closure

BY Aparna Sai |

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, Latham advise on $6 bln merger of Chinese live game streaming firms Huya, DouYu

BY Aparna Sai |

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.

Guangzhou Reinvents Itself

BY Hu Yangxiaoxiao 胡阳潇潇 |

The Pearl River Delta, with Guangzhou located at its centre, was once dubbed “the world's factory floor”. However, with COVID-19 casting a shadow over the manufacturing industry, the city is beginning to embrace new industries.

Could Virtual Law Firms be the Future?

BY Elizabeth Beattie |

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, Kirkland act on Chinese biopharma firm’s $371 mln HK IPO

BY Aparna Sai |

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.

Greater Integration

BY Elizabeth Beattie |

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.

Freshfields, Sidley, STB advise on Yum China’s $2.2 bln HK secondary listing

BY Aparna Sai |

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.

WeChat users sue Trump: The lawyer’s perspective

BY Hu Yangxiaoxiao 胡阳潇潇 |

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, CC lead on  bottled water company’s $1.08 bln HK IPO

BY Aparna Sai |

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.