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Eversheds advises on the Hong Kong IPO of PRC leading biscuit manufacturer

  • United Kingdom


    The Hong Kong office of global law firm Eversheds has advised China Merchants Securities (Hong Kong) in connection with the HK$370 million initial public offering (IPO) of Jiashili Group Limited. The company was successfully listed on 25 September 2014.

    Jiashili Group Limited is one of the largest biscuit manufacturers in the PRC. The company enjoys a leading role in the Chinese biscuit market and it was named Top 100 Enterprise in China Bakery and Confectionary Industry.

    The company raised HK$370 million by issuing 100 million shares, which represent 25% of the company’s total issued share capital immediately after the completion of the IPO, at HK$3.7 each. The Hong Kong public offering has been over-subscribed by approximately 28 times.

    China Merchants Securities, a leading investment bank in China, is the sole global coordinator, sponsor, book runner and lead manager.

    The Eversheds team was led by Partners Stephen Mok and Norman Hui, assisted by Janice Yip, Grace Leung, Joanne Chong and Man-Wai Wong.

    Stephen Mok said:

    "Jiashili Group Limited is a leading biscuit manufacturer in the region, which has shown impressive growth since it was founded. This IPO demonstrates the appetite in the market for strong and successful companies. We are extremely pleased to have assisted China Merchants Securities which will help Jiashili Group Limited further develop its brand.

    "Eversheds international consumer team has extensive experience in advising food and drink companies on all manner of issues affecting the sector, from corporate matters through to real estate, regulatory, health and safety, environmental and e-commerce issues. This transaction clearly demonstrates our relevant sector expertise in China and Hong Kong."

    Marcus Woo, Managing Director, China Merchants Securities, comments:

    “We are delighted with the outcome of this IPO. Eversheds provided a strong and experienced team who advised on all aspects of the transaction."

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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