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Tag: Capital markets

HKEX enforcement cases highlight top-level accountability

By Rossana Chu, YYC Legal

Hong Kong Exchanges and Clearing Limited (HKEX) has consistently emphasised the importance of listed issuers complying with its listing rules

Japan’s Mizuho Financial offers USD6.6bn in senior notes

Simpson Thacher and Davis Polk advise on Mizuho Financial Group’s USD6.6 billion senior notes offering.

KEPCO issues USD700m in notes under USD11bn GMTN programme

Firms act on Korea Electric Power Corporation’s USD700 million dual-tranche note issuance under its USD11 billion global medium-term note programme

Philippine Airlines offers landmark USD300m high-yield bond

Philippine Airlines’ issues landmark USD300 million 7.75% five-year senior unsecured guaranteed notes

Commerce & Finance opens in Guangzhou extending GBA reach

Commerce & Finance Law Offices opens its Guangzhou office on 22 July, strengthening services across the Greater Bay Area

Indian corporate fitness provider Cult.fit in INR9.5bn IPO bid

Firms are advising on Cult.fit’s proposed INR9.5 billion (USD98.45 million) initial public offering on the BSE and NSE

SEC and the cost of local capital market investment

By Luke Morgan B Codilla, ACCRALAW

Philippine investors seek US market gains as SEC warns on unregistered brokers and feeder funds

SAM, Trilegal, Latham drive Ather Energy’s USD134m QIP

Firms drive electric two-wheeler manufacturer Ather Energy’s INR13 billion (USD134 million) qualified institutional placement (QIP)

Firms map MiniMax’s HKD16bn share and bond fundraising

Davis Polk and Commerce & Finance advise on MiniMax’s share placement and convertible bond issuance

WFW adds finance, capital markets partner from White & Case

Watson Farley & Williams strengthens its APAC finance and capital markets team with partner Xuan Jin joining the Hong Kong office.

Reuben Chacko quits CAM to expand S&R’s southern horizon

After two decades at Cyril Amarchand Mangaldas (CAM), Reuben Chacko, senior partner and regional co-head markets practice (south) has decided to move to S&R Associates.

Allens, HSF Kramer advise on Australia’s largest IPO in 2026

Allens and HSF Kramer assist on FDC’s landmark IPO, raising AUD400 million in the largest debut on the Australian Securities Exchange (ASX) this year to date

Recalibrating India’s FPI regime beyond NRIs/OCIs

By Aman Avinav, Phoenix Legal

India broadens schedule III route, tightens safeguards on ownership, thresholds and land-border jurisdictions

Adani’s USD1.57bn QIP in landmark India issuance

Firms guide Adani Enterprises on a INR150 billion qualified institutional placement in the largest such non-bank issuance in India

Latham, A&G, Clifford Chance act on Singapore healthcare IPO

Latham & Watkins, Allen & Gledhill and Clifford Chance guide parties in Foundation Healthcare’s SGD242 million (USD187 million) IPO in Singapore

Firms steer top wafer foundry Nexchip’s HKD6.98bn listing

Leading wafer foundry Nexchip Semiconductor lists on the HKEX main board on 10 July, raising around HKD6.98 billion (USD890 million)

Firms assist on Three-Circle’s HKD7.16bn debut in Hong Kong

Three-Circle Group debuts on the HKEX on 9 July, raising around HKD7.16 billion (USD913 million)

Firms advise on PCB drill-bit leader Dtech’s HKD4.8bn IPO

Printed-circuit board drill-bit manufacturer Dtech Technology raises HKD4.8 billion (USD612 million) in its HKEX debut on 9 July, three years after its SZSE listing

AHP steers Bank Tabungan Negara’s pension loan portfolio buy

Assegaf Hamzah & Partners advises Bank Tabungan Negara (BTN) on acquiring Bank SMBC Indonesia’s pension loan portfolio for a reported IDR19.9 trillion (USD1.1 billion)

Korea’s SK Hynix makes historic USD26.5bn Nasdaq listing

South Korean semiconductor giant SK Hynix debuts on the Nasdaq via American depositary receipts, raising up to USD26.5 billion

Luxshare raises HKD24.27bn in Hong Kong’s largest IPO

Chinese leading manufacturing company Luxshare Precision raises about HKD24.27 billion (USD3.09 billion) in Hong Kong’s largest IPO to date this year

Davis Polk, Fangda act on Biren’s HKD7.1bn H-share placement

Chinese graphics processing unit developer Biren Technology raises around HKD7.1 billion after an H-share placement on the HKEX on 8 July

Linklaters assists on Philippines’ USD2.5bn bond offering

Linklaters assists on Philippine government’s USD2.5 billion triple-tranche global bond offering

Firms steer autonomous driving company Momenta’s HKD5.89bn IPO

Chinese autonomous driving company Momenta debuts on the HKEX on 8 July, raising HKD5.89 billion (USD751 million)

EACON is world’s first listed autonomous mining vehicle company

China’s EACON Group becomes the world’s first listed autonomous mining vehicle company after its HKEX debut on 8 July, raising HKD3 billion

Global Law recruits four partners in disputes and investment

Global Law Office recruits four partners and their teams to strengthen its capabilities in dispute resolution and investment

Skadden, Mori Hamada act on NTT Finance’s USD10.4bn notes

Firms advise on NTT Finance Corporation’s concurrent multi-currency offering of senior notes equating to around USD10.4 billion

LHAG hires three from Zaid Ibrahim & Co, including former MP

Malaysia’s Lee Hishammuddin Allen & Gledhill (LHAG) recruits three lawyers from Zaid Ibrahim & Co, including former managing partner Amin Abdul Majid

AZB, CAM, Hogan Lovells steer Sterlite’s USD159m QIP

AZB & Partners, Cyril Amarchand Mangaldas and Hogan Lovells act for Sterlite Technologies’ qualified institutional placement (QIP), raising around INR15 billion

Kanga & Co sole counsel for OM Power’s INR1.5bn IPO

Kanga & Co advises Om Power Transmission on its successful IPO in India, raising around INR1.5 billion (USD15.73 million)

Firms advise on Anker Innovations’ HKD4.6bn HKEX debut

来自中国内地、香港、日本、阿联酋和美国共十家律所为此次上市提供法律服务

Khaitan, Trilegal and Linklaters work on landmark JSW QIP

Firms have worked on JSW Infrastructure’s landmark INR75 billion (USD875 million) qualified institutional placement (QIP)

Sullivan & Cromwell hires capital markets partner in HK

Former Paul Hastings partner Steven Hsu joins Sullivan & Cromwell’s capital markets group in Hong Kong

HHP Law Firm appoints Ponti Partogi as new managing partner

HHP Law Firm, the Indonesian member firm of Baker McKenzie, names Ponti Partogi as its new managing partner

Cooley, Dua advise Lingyi iTech on HKD8.26bn Hong Kong IPO

Cooley and Dua Associates have guided Apple supplier Lingyi iTech on its HKD8.26 billion (USD1.06 billion) initial public offering in Hong Kong

China Resources New Energy in RMB21.3bn record SZSE debut

King & Wood, Haiwen & Partners and Clifford Chance act on China Resources New Energy’s record breaking RMB21.3 billion IPO on the SZSE

Allens guides landmark USD30m Vietnam green bond issuance

Allens counsels GuarantCo on a payment default guarantee for a private VND-denominated USD30 million bond issuance by Verdant Energy’s Vietnamese subsidiaries

Juris Corp bolsters leadership with four new equity partners

Juris Corp inducts Ankit Sinha, Apurva Kanvinde, Saurabh Sharma and Smrithi Nair as equity partners

Firms advise on Mitsubishi’s USD1bn senior notes offering

Firms advise on Mitsubishi Corporation’s Rule 144A and Regulation S offering of USD1 billion in senior notes

MMG raises USD1.6bn in share placement and bond offering

China Minmetals Corporation’s subsidiary MMG raises USD1.6 billion from a share placement and bond issuance

Preparing for Hong Kong’s paperless securities regime

By Stella Yeung and Stephen Luo, Jingtian & Gongcheng

Hong Kong’s shift to a paperless securities regime in 2026 marks a digital leap for issuers, reshaping shareholding and compliance norms

Indonesian Merdeka Gold’s landmark HDR listing in Hong Kong

Firms steer Merdeka Gold Resources’ landmark secondary listing of Hong Kong depositary receipts (HDRs) on the SEHK

BKL wins mandate to advise Korea’s financially strained Sambu

Bae Kim & Lee (BKL) is the sole legal adviser working on Sambu Engineering & Construction’s corporate rehabilitation proceedings in South Korea

CAM, Shardul Amarchand act on Krishna medical’s USD155m QIP

Firms assist on Krishna Institute of Medical Sciences’ INR15 billion (USD155 million) qualified institutional placement of shares

China Commercial secures approval to open Singapore branch

China Commercial Law Firm has received approval to establish a Singapore office as its 20th overseas branch, further expanding its global legal services network

Unwinding red-chip structures

By Vincent Shen, Commerce & Finance Law Offices

This practical guide covers tax exposure, distinct exit paths for VIE and direct equity structures, and five regulatory red flags that determine IPO success.

Firms sketch Italian stationary giant FILA’s DOMS stake sale

Firms chart Italian stationary giant FILA Fabbrica Italiana Lapis ed Affini’s sale of 7% stake in Indian subsidiary DOMS Industries

No flaws allowed

Capital markets lower entry threshold but ramp up accountability

Firms steer Danantara Indonesia’s USD5bn MTN, USD1.5bn bonds 

Firms chart Danantara Indonesia’s debut USD5 billion global medium-term note programme and inaugural USD1.5 billion bond issuance  

Skadden assists on GO debut in Japan’s largest IPO in 2026

Skadden advises Japanese company GO on its JPY88.6 billion global IPO and Tokyo Stock Exchange debut in the largest Japan listing in 2026

Nishimura & Asahi, Clifford Chance drive USD1.5bn bond offering

Firms act on JX Advanced Metals Corporation’s issuance of JPY250 billion (USD1.5 billion) of zero-coupon convertible bonds

China Commercial adds capital markets and Web3 partners

China Commercial Law Firm recruits Luo Shazhou and Ji Zhe as partners at its Shanghai office, bolstering the capital markets practice

Firms act on Australian REIT’s USD1.4bn secured debt platform

Mallesons and Ashurst advise on Charter Hall Long WALE REIT’s new AUD2 billion (USD1.4 billion) secured debt platform

Investment strategies in alluring India

By Dushyant Bagga and Pooja Menon, TT&A

India draws Japanese investment with pricing rules, FDI, FVCI, convertible notes and minority protections for unlisted equity

Korea’s legal landscape: Strategic window for Japanese investors

By Min Young PARK, Wooyoung CHOI and Jae Hoon CHOI, Lee & Ko

South Korea’s sweeping reforms invite Japanese investors to reassess market opportunities, risks, governance and collaboration

Firms advise on HKMC’s HKD12bn landmark digital bond issuance

The HKMC issues its maiden multi-currency native digital bonds worth around HKD12 billion (USD1.5 billion) in the largest such global issuance

Simpson Thacher steers USD945m Kokusai Electric stock sale

Simpson Thacher advises KKR HKE Investment on the sale of its Kokusai Electric Corporation stake for USD945 million

Shihui opens HK office in association with HM Chan & Co

Shihui Partners launches a Hong Kong office in association with local peer HM Chan & Co, marking the Chinese mainland firm’s fourth branch

Firms update IIFL’s USD1bn medium-term note programme

Firms guide parties involved in an update of IIFL Finance’s USD1 billion secured global medium-term note programme

Kanga & Co advises MK Sons Fine Jewels on proposed IPO in India

Kanga & Co counsels MK Sons Fine Jewels and book-running lead manager Aryaman Financial Services on the jewellery company’s proposed IPO in India

China finance ministry issues RMB6bn sovereign green bonds

Firms advise on China finance ministry’s first issuance of RMB6 billion RMB-denominated sovereign green bonds in Hong Kong

AYMP steers USD12m submarine cable shelf registration scheme

Armand Yapsunto Muharamsyah & Partners advises Indonesia’s Ketrosden Triasmitra on its IDR220 billion (USD12 million) submarine shelf registration programme

HKEX consultation on listing framework competitiveness

By Rossana Chu, YYC Legal

New consultation paper proposes relaxed WVR voting caps, simplified financial requirements, and easier secondary listing rules to attract more quality issuers to Hong Kong

Firms assist on Dajin Heavy Industry’s HKD6.64bn HKEX debut

Dajin Heavy Industry, a leading offshore wind energy equipment manufacturer, lists on the HKEX, raising HKD6.64 billion

Agile shareholding structures, compliance to drive AI globalisation

By Clara Liu and Zhao Chenchen, Han Kun Law Offices

AI global expansion confronts regulatory and geopolitical hurdles

Singapore firms steer USD841m office tower refinancing loan

Singapore firms steer USD841m refinancing loan for Frasers Tower in the Lion City

K&L Gates appoints corporate and M&A partner in Hong Kong

Dechert’s former China practice head Wang Yang joins K&L Gates in Hong Kong as a partner

Commerce & Finance adds capital markets partner in Hong Kong

Commerce & Finance Law Offices hires Zhong Xiaoming as a partner at its Hong Kong office

New CSR instrument exempts companies from impact assessment

India’s Ministry of Corporate Affairs introduces zero coupon, zero principal instruments to help companies facilitate corporate social responsibility compliance

Tighter scrutiny of auditor changes under HKEX’s new FAQ

By Stella Yeung and Stephen Luo, Jingtian & Gongcheng

Firms act on USD100m note issue for Indonesia gold mine project

Firms counsel parties on Indika Energy’s USD100 million 8.75% senior note issuance to fund a gold mining project in Indonesia

JSA guides Online Instruments on proposed INR7.5bn IPO

Firms are advising on the proposed IPO on the BSE and NSE of Online Instruments (India), which expects to raise INR7.5 billion (USD77.49 million)

Firms aid WuXi AppTec’s RMB6.78bn convertible bond issuance

Pharmaceutical R&D company WuXi AppTec issues RMB6.78 billion (USD996.6 million) in USD-settled zero-coupon convertible bonds due in 2027

Firms assist Pakistan’s landmark panda bond issuance

Pakistan issues South Asia’s first sovereign panda bond, raising RMB1.75 billion and funding green infrastructure

LPA Tokyo boosts corporate, M&A with new partner

LPA Tokyo hires partner Yoshiki Tsurumaki from King & Wood to boost corporate and M&A

Rohit Tiwari joins Trilegal’s Bengaluru capital markets practice

Rohit Tiwari joins Trilegal as Bengaluru capital markets partner, boosting equity partnership to 158

Simpson Thacher assists on USD711m global equity offering

Simpson Thacher advises Japan’s Sumitomo Pharma on its USD711m international share offering

Hong Kong-based partner joins Italian firm Gianni & Origoni

Italian law firm Gianni & Origoni appoints Hong Kong-based partner Teresa Lee

Boom in panda bond issuances set to flourish, say lawyers

The appeal of panda bonds surges in 2026, with issuance volume reaching RMB88.24 billion (USD13 billion) in a record high for a single quarter

Dechert hires two partners, including ex-Milbank Seoul MP

Dechert appoints two partners from Milbank – David Cho, ex-managing partner of the Seoul office, and special counsel Min Kim

Llinks expands Hong Kong office with two partner hires

Llinks Law appoints partners Vivian Ji and Daniel Leung for its Hong Kong office

Firms steer Korean shipbuilder’s USD1.55bn bond issuance

Firms advise on HD Korea Shipbuilding & Offshore Engineering’s KRW2.37 trillion (USD1.55 billion) zero-coupon exchangeable bond issuance

Firms steer CATL’s HKD39.2bn H-share placement

CATL completes a new H-share placement, raising HKD39.19 billion on 30 April 2026 in the largest equity placement in the Hong Kong market to date

Linklaters steers Genting Group’s USD1.25bn securities offer

Linklaters advises Malaysia-headquartered Genting Group on its issuance of USD1.25 billion dual-tranche subordinated perpetual securities

Kudun and Partners integrates law firm, names Vietnam head

Kudun & Partners integrates corporate and capital markets law firm Manunya & Associates with its founder Manunya Thitinuntawan joining as a partner

Firms act on medtech maker Cofoe Medical’s HKD1.06bn IPO

Cofoe Medical Technology lists on the HKEX main board becoming the first home medical equipment maker to achieve a dual listing

Weerawong C&P pair rejoins Chandler Mori Hamada in Bangkok

Thailand’s Chandler Mori Hamada has brought back Siregran (Gahn) Sakuliampaiboon and Disaphon Kevin Saengpetch

Unpacking the debut of Hong Kong’s USM

By Rossana Chu, YYC Legal

Commerce & Finance expands capital markets team in Hong Kong

Commerce & Finance appoints Jiang Shan as a partner in its debt capital markets practice in Hong Kong

How actual controllers of listed companies ward off criminal risks

By Cai Zhenghua, Shanghai Elite Law Firm

When listed companies become involved in serious misconduct like tax evasion or bribery, the actual controller is often the first to be held accountable

Key proposed changes to HKEX’s listing regime

By Stella Yeung and Stephen Luo, Jingtian & Gongcheng

Dorsey hires corporate of counsel Carlton Ng in HK office

Dorsey hires Carlton Ng as of counsel at its Hong Kong office, strengthening its capabilities in capital markets and corporate compliance

Firms steer hybrid computing provider Xizhi Tech’s HKD2.5bn IPO

Optical-electronic hybrid computing provider Xizhi Technology lists on the HKEX on 28 April, raising HKD2.53 billion (USD323 million)

Jingtian & Gongcheng opens key Yangtze delta branch in Ningbo

Jingtian & Gongcheng officially opens Ningbo office on 24 April, marking the firm’s 11th branch nationwide

Mallesons steers NEXTDC’s USD1.5bn data centre capital raise

Mallesons guides data centre operator NEXTDC on its AUD2.2 billion (USD1.5 billion) capital raise to support data centre development

Crypto, tokenisation and structured finance in the Philippines

By Maria Elizabeth E Peralta-Loriega, Marie Jourgen B Endaluz and Brian Earl A Leshen, Sarmiento Loriega Law Office

Philippines shifts from crypto payments to tokenised structured finance, guided by regulation and investor protection

Firms steer smart device maker Huaqin Tech’s HKD4.55bn IPO

Huaqin Technology, a smart device platform company, debuts today on the main board of the HKEX, raising HKD4.55 billion

Firms steer shipping operator MTT’s USD164m IPO in Malaysia

Firms advise on MTT Shipping and Logistics’ IPO on the Bursa Malaysia, raising MYR652 million (USD164 million)

Firms steer Victory Giant Technology’s HKD20bn IPO

JunHe, Cleary Gottlieb, Robin Lynn & Lee, CHP Law, DFDL, Freshfields and Jingtian & Gongcheng advise on Victory Giant Technology’s HKD20 billion IPO

AllBright and Haiwen act on SJ Semiconductor’s RMB5bn IPO

Chip packaging and testing company SJ Semiconductor debuted today on the SSE Star Market, raising more than USD733 million and becoming the largest A-share IPO so far in 2026

Banking and finance partner rejoins Adnan Sundra & Low

Malaysian law firm Adnan Sundra & Low welcomes Sharon Teoh’s return as a banking and finance partner

Baker McKenzie, Gibson Dunn steer USD1.5bn AI acquisition

Baker McKenzie Wong & Leow, the Singapore arm of the global law firm, and Gibson Dunn advised on regulatory technology company Diginex’s

Grandall welcomes six equity partners in four offices

Grandall Law Firm has added six equity partners across its Guangzhou, Shenzhen, Fuzhou and Wuhan offices

Christopher & Lee Ong advises on Malaysian sushi chain’s IPO

Malaysian law firm Christopher & Lee Ong has advised on Empire Premium Food’s listing on the Bursa Malaysia

First ‘Six Little Dragons of Hangzhou’ goes public in HK

Manycore Tech is the first of the so-called “Six Little Dragons of Hangzhou” to go public and the world’s first listed spatial intelligence company after debuting on the HKEX on 17 April

Hogan Lovells Cadwalader becomes largest law firm merger

Partners at Hogan Lovells and Cadwalader Wickersham & Taft have approved a proposed merger to create the largest law firm combination in history

Indonesian firms assist on USD750m Bank Mandiri bond offering

Indonesian firms assist Bank Mandiri on USD750 million global bond offering in the first benchmark USD issuance from Southeast Asia since late February 2026

How to properly manage sick leave

By Tracy Liu and Larry Lian, Jingtian & Gongcheng

Managing sick leave and medical treatment periods can be a big headache for companies – cured only by preemptive policy clarification

Jingtian & Gongcheng adds three partners in Beijing

Jingtian & Gongcheng has hired three partners, Shi Bisheng, Shi Lei and Chen Zhaolong, for its Beijing office

Consent required for electronic share transfer in private companies

By Ayush Jain and Priankita Das, Bharucha & Partners

NSDL circular mandates consent letters for demat private share transfers, reshaping investor exits and Companies Act compliance

Capital markets partner returns to JunHe in Hong Kong

JunHe Law Offices welcomes return of partner Ryan Choi at the Hong Kong branch to bolster its capital markets practice

CMS IndusLaw is sole counsel for Intellius Recode on IPO bid

CMS IndusLaw is sole Indian counsel advising software company Intellius Recode on its proposed initial public offering

Zhong Lun adds four dispute and capital markets partners

Zhong Lun has continued to bolster its ranks by adding four partners, following Tony Chow’s appointment in February

Using SPVs to control founder risks in VAM agreements

By Peng Guopeng, W&H Law Firm

In investment and M&A deals, valuation adjustment mechanism (VAM) agreements, also known as bet-on agreements, are increasingly used to bind the parties’ interests and drive the target’s performance

New rules on short swing trading strengthens compliance: lawyers

The China Securities Regulatory Commission issued the regulation on short swing trading on 6 March

The A-List 2025-26: Rising Stars

China Business Law Journal has identified this year’s future leaders in the legal market after an extensive market survey and independent research

Capital markets partner joins Han Kun in Hong Kong

Han Kun Law Offices has appointed Joanne Loi as a partner at its Hong Kong branch, further strengthening the firm’s capital markets practice

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