DEAL OF THE MONTH - November2019



NAME:
Alibaba’s $11.3 billion secondary listing in Hong Kong  

LAW FIRM: Fangda Partners, Freshfields Bruckhaus Deringer, King & Wood Mallesons, Simpson Thacher & Bartlett

LAWYERS: Chris Wong, Daniel Fertig, Doris Tang, Jeffrey Ding, Leo Lou, Yang Xiaolei, Jiang Zhihui

JURISDICTION: Hong Kong

PRACTICE AREAS: Capital markets

INDUSTRY SECTORS: Technology and telecommunications

Alibaba’s $11.3 billion secondary listing in Hong Kong is our deal of the month for November.

Fangda Partners and Simpson Thacher & Bartlett advised Alibaba on its $11.3 billion mammoth secondary listing in Hong Kong, with Freshfields Bruckhaus Deringer and King & Wood Mallesons advising the joint sponsors and underwriters.

The IPO would be the largest deal in Hong Kong since 2010 and the world’s biggest ever cross-border secondary listing.  

Alibaba raised HK$88 billion offering proceeds by issuing 500 million ordinary shares in this global offering which marks the world’s largest new share offering in 2019.

Alibaba has become the first Chinese e-commerce giant to be listed on both the US and Hong Kong.