Three firms advised Ping An Insurance’s fintech arm Lufax on its HKEX debut by introduction, a way for a company already on another exchange to list without issuing new shares or fundraising within six months.
Skadden advised Lufax on Hong Kong and US law, while Maples Group handled Cayman Islands law. Partner Hu Ji at Haiwen & Partners led the team advising on PRC law.
Cleary Gottlieb Steen & Hamilton acted as Hong Kong and US counsel to the joint sponsors – JP Morgan, Morgan Stanley and UBS – and provided legal services to the designated dealer and the alternate designated dealer.
Zhong Lun Law Firm acted as PRC counsel to the joint sponsors, led by partners Anthony Zhao and William Jia, with support from partner Roy Zheng.
The company secured dual primary listing status in both Hong Kong and the US after its successful listing on the HKEX.
Lufax’s NYSE IPO in 2020 raised USD2.36 billion, representing the largest China stock listing and the most substantial fundraising fintech IPO in the US in the same year.
Read more about Dual Primary Listing
OneConnect debuts on HKEX in dual primary listing
China insurance conglomerate Ping An’s fintech subsidiary, OneConnect Financial Technology, has debuted on the main board of the HKEX by way of introduction and dual-primary listing.
Five firms steer MINISO’s dual-primary listing in Hong Kong
Global retailer MINISO Group has achieved its dual-primary listing on the Hong Kong bourse, raising HKD567 million (USD72.2 million). Five law firms assisted in the listing
KE overcomes hurdles to list back in HK
The competition regulator has taken an assertive enforcement stance in the post-pandemic era.
For more stories about Dual Primary Listing, visit law.asia.
