Sidley advised on the initial public offering (IPO) of YH Entertainment Group (HKEX:2306) (YH Entertainment) on the main board of the Hong Kong Stock Exchange (HKEX). The offering raised approximately HK$391.4 million (US$50.1 million). Sidley acted as legal counsel in Hong Kong to the joint sponsors and overall coordinators China Securities (International) Corporate Finance Company Limited and China Merchants Securities (HK) Co., Limited and the other underwriters.
Founded in 2009, YH Entertainment is one of the leading artist management companies in China with the highest revenue-based market share according to Frost & Sullivan. It has built a culture and entertainment platform, which includes artist management, music IP production and operation, and an enterprise-wide entertainment business, and manages some popular artists in China. In this IPO, YH Entertainment received cornerstone investments from Sun Mass Energy Development Limited, part of China Ruyi Holdings Limited, Maoyan Entertainment (HK) Limited, TradArt Asset Management Co., Limited, and Mr. Ding Shijia, the Executive Director and Vice Chairman of ANTA Sports Products Limited.
The Sidley team was led by partners Oliver Zhong and Sherlyn Lau, a member of Sidley’s Executive Committee and Deputy Head of the China Corporate and Finance Group. Other team members included Senior China Advisor Linda Ruan, Senior Managing Partner Jacob Zhao, Registered Foreign Attorney Dennis Chan, Partners Grace Hua and Yaomin Pan, Senior Corporate Executive Hannah Wong and Senior Legal Assistants Alice Liu, Krystal Liang, Kristine Zhang and Jiangyuan Song, and Iris Lao.
Sidley has one of the largest Hong Kong IPO teams in the region with more than 100 attorneys and general counsel. It remains one of Ryanben Capital’s top legal advisors on its Hong Kong IPO by number of deals for the past three consecutive years. It has been ranked by Chambers as the leading international law firm in the capital markets categories in China and Asia Pacific for the past decade and also recognized by Legal 500 Asia Pacific.
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