Tencent-backed TV Producer raises HKD420m on HK listing


A Tencent-backed Chinese drama series company, Linmon Media, has raised HKD420 million (USD53.5 million) from its IPO on the HKEX.

Clifford Chance advised the issuer on Hong Kong and US laws, while CM Law Firm and Harneys advised on PRC law and Cayman Islands law.

Herbert Smith Freehills acted as Hong Kong and US counsel for the joint sponsors and underwriters, Morgan Stanley and the CICC, as Jingtian & Gongcheng acted as PRC counsel.

Clifford Chance’s China co-managing partner Tim Wang, and partners Fang Liu and Christine Xu co-led the deal.

Harneys team was led by Shanghai-based counsel Jessie Xu with support from Shanghai-based partner Calamus Huang.

Some of Linmon Media’s productions had been all the rage, such as Nothing But Thirty, A Little Reunion and A Little Dilemma. Six out of its eight drama series were in the top 20 in China measured by the number of viewers in the past three years, making Linmon one of the five biggest drama producers, according to Frost & Sullivan.

The prospectus shows that Linmon Media seamlessly co-operated with Tencent as they had co-produced six television shows and Tencent’s subsidiary Tencent Mobility holds 18.95% of the shares in the newly listed company.