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.
Cloud-based law firm Rimon Law has hired Xiaowei Ye as a partner in the firm’s Shenzhen and Washington DC offices. Ye was managing partner of Morgan Lewis & Bockius’ Beijing office between 2014 and 2018.
Khaitan & Co and Cyril Amarchand Mangaldas are advising Indian drugmaker Gland Pharma on its planned $780 million IPO, with Herbert Smith Freehills and S&R Associates acting for the bookrunners and lead managers.
Investigations and white-collar crime specialist Haiyan Tang, who left Paul Hastings’ Shanghai office as a partner last year to join CBC Group at its chief legal and compliance officer, has returned to the U.S. firm.
Chinese apps today face intense scrutiny, if not outright bans, in certain key overseas markets. Lawyers say that the situation demands that they adjust their thinking about how they operate in certain countries, and come up with fresh strategies for the same.
Davis Polk & Wardwell and Jia Yuan Law Offices have advised Chinese clinical trial and research firm Hangzhou Tigermed Consulting on its $1.38 billion Hong Kong IPO, with Freshfields Bruckhaus Deringer and Zhong Lun Law Firm representing the sponsors.
Baker McKenzie has added FenXun Partners, its joint operation (JO) partner in China, to its international network as a Swiss verein member.