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What the team is known for Excellent track record of taking on large and complex IPOs on behalf of issuers, sponsors and underwriters, as well as handling a range of high-value secondary share offerings. One of the standout ECM teams in the region, regularly advising on major transactions. Additionally has an enviable DCM practice, assisting on the issuance of a range of products, including hybrid, panda and dim sum bonds. Able to offer Hong Kong and US legal advice on cross-border offerings. Consistently represents leading international and Chinese banks and investment corporations.
Strengths Clients agree that the team offers "strong commercial awareness and fully understand their client's requirements before issuing advice," going on to describe the group as "able to consistently offer professional, timely and practical solutions," in addition to being "accessible even outside office hours."
A client asserts that the firm outperforms others with respect to "execution, handling complex structures and restrictions from the regulators and liaising with different counterparties smoothly."
Work highlights Advised the underwriters on the Agricultural Development Bank of China's CNY3 billion Reg S bond issuance.
Advised the joint sponsors and underwriters, including JP Morgan and Morgan Stanley, on Budweiser APAC's USD5.75 billion IPO and listing on the SEHK.
Co-head of department
Amy Lo is a veteran equity capital markets lawyer who handles some of the team's heftiest IPO mandates, lately acting for major clients in the pharmaceutical, entertainment and beverage sectors. Sources praise her activity and ability to staff and manage a team, noting that she handles a "lot of execution work" and describing her as a "very good partner who gets work done with sufficient resources."
Angela Chan enters the banded rankings after winning the support of clients who describe her as "very responsive" and a "standout" on the team. Of late, her practice has included advising on the issuance of exchangeable bonds, offshore offerings and MTN programmes.
Head of department
Connie Heng is lauded by a client for her ability to "always provide insights on all dimensions of a bond deal, especially for the deals with complicated structures."She advises domestic and international banks as underwriters, as well as assisting Chinese clients with a range of investment-grade issuances.
David Tsai wins recognition from market commentators, who see him as a lawyer who is "willing to have a discussion, knows his stuff and has handled a wide range of things." He offers clients nearly 15 years' experience advising on a range of transactions associated with investment-grade issuances, including Reg S, dim sum and green bonds.
Jean Thio is highlighted by an interviewee as "customer-oriented" and "commercial" for her ability to "understand the company's requirements and how to solve problems accordingly."She continues to advise both underwriters and issuers on SEHK listings.
Fang Liu frequently advises issuers on their Hong Kong IPOs. His clientele includes banks, pharmaceutical companies, entertainment companies and investment holding groups.
Matt Fairclough is praised by sources, with a client asserting that he is "very professional in handling legal matters with a practical approach," and a peer reporting: "He has spent a long time in Hong Kong and developed his client base and reputation in the market." He is a seasoned practitioner for investment-grade DCM issuances and also advises on tap issuances and MTN and perpetual securities programmes.
Tim Wang co-leads the equity capital markets practice and is best known for acting for domestic issuers on their SEHK IPOs. A client singles him out for "demonstrating great leadership skills and understanding of capital markets," as well as his "ability to manage projects closely."
Virginia Lee is a rising ECM partner whose clients praise her "great leadership skills and solid understanding of listing rules," while asserting that she is "strong on the technical side and also very professional." She advises a number of prominent clients on Hong Kong IPOs.