Tongshang & Tongshang HK jointly represented Semk Holdings in its HK IPO
Starting the new year with a bang, Eric Chow & Co. in Association with Commerce & Finance Law Offices (“Tongshang Hong Kong”), together with our PRC office, Commerce & Finance Law Offices (“Tongshang”), jointly represented Semk Holdings International Limited (‘Semk Holdings’, Stock Code: 02250.HK) on its listing on the Main Board of the Hong Kong Stock Exchange (“HKEx”) on 17 January 2022. Unaffected by the current market instability, the successful Hong Kong Public Offering of Semk Holdings recorded an over-subscription by approximately 6.31 times. Semk Holdings’s listing is yet another project completed by the collaboration between Tongshang and Tongshang Hong Kong and which we proudly provided a “one-stop shop” with comprehensive PRC and Hong Kong legal services to the sole sponsor and underwriters.
Tongshang and Tongshang Hong Kong acted as the PRC and Hong Kong legal advisors, respectively, to the Sole Sponsor, China Everbright Capital Limited, and the underwriters including but not limited to BOCOM International Securities Limited, China Everbright Securities (HK) Limited, CMBC Securities Company Limited, First Shanghai Securities Limited, Fosun Hani Securities Limited, Grand China Securities Limited, Guotai Junan Securities (Hong Kong) Limited etc.
Semk Holdings International Limited is the second largest domestic character IP company and ranked fifth among all character IP companies in China, in terms of character licensing revenue in 2020, and with a market share of around 2.4% according to Frost & Sullivan.
The Tongshang Hong Kong team was led by our Managing Partner Eric Chow and Partner Priscilla Lee. Other team members include Associates Jessie Cheung and Lawrence Tam, supported by Trainee Solicitors Angela Ng and Jessica Yu.
We continue to be one of the leaders in the Hong Kong IPO market. According to latest data from Ryanben Capital, Tongshang was the no. 1 legal adviser to PRC law in the Hong Kong IPO league table by deal volume in 2021. (January – December 2021).