Deewin Tianxia raises HKD977M in Hong Kong listing

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Deewin Tianxia raises HKD977M in Hong Kong listing

DLA Piper and Dentons advised Deewin Tianxia, the Chinese commercial automobile service provider, in raising HKD977.4 million (USD124.5 million) in its Hong Kong IPO.

The company’s controlling shareholder state-owned Shaanxi Automobile Group is the fourth biggest commercial auto manufacturer in China, which contributes to the bulk of Deewin Tianxia’s revenue, according to the prospectus. Commercial autos refer to trucks, Pickup trucks, trailers, buses and vans.

DLA Piper acted as the Deewin Tianxia’s Hong Kong and US counsel, while Dentons acted as PRC counsel.

Linklaters advised the sole sponsor, China Securities International, on Hong Kong and US law. Jia Yuan Law Offices advised on PRC law.

The Linklaters team was led by capital markets partners Iris Leung and Lipton Li, with support from counsel Liang Wei.

Jia Yuan’s team was led by senior partners Shi Zhenjian and Yi Jiansheng, and partner Yan Siyu.