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Lillian Cheung
Lillian has extensive experience advising leading global investment banks, fund houses, multinational companies and start-ups on a wide range of corporate transactions, including public and private capital fundraising and investment, debt and project financings, mergers and acquisitions, corporate restructuring, regulatory compliance and general corporate matters.
Experience
HK IPO and secondary listing:
- J.P. Morgan, BofA Securities, CICC and Haitong International as joint sponsors and other underwriters in the approximately US$1.67 billion secondary listing of GDS Holdings Limited (9698.HK) with a WVR structure on the Hong Kong Stock Exchange
- BNP Paribas, China Construction Bank International, Industrial and Commercial Bank of China International and other underwriters in the spin-off of Central China Management Company Limited (9982.HK) and the approximately US$126 million IPO and listing on the Hong Kong Stock Exchange
- CCB International Capital Limited as sole sponsor and other underwriters in the approximately US$85 million IPO and listing of Kangqiao Service Group Limited (2205.HK) on the Hong Kong Stock Exchange
- Hua Medicine (2552.HK), a biotech company, in its US$110 million Chapter 18A IPO on the Hong Kong Stock Exchange sponsored by Goldman Sachs and CLSA Limited
- ABCI Captial Limited as sole sponsor, CICC Hong Kong Securities Limited and other underwriters in the approximately US$17.6 million IPO and listing of H shares of Lushang Life Services Co., Ltd. (2376.HK) on the Hong Kong Stock Exchange
- A renowned U.S. fund house, as investors of Innovent Biologics (1801.HK), in Innovent Biologics’ US$412 million IPO on the Main Board of the Hong Kong Stock Exchange
- Dexin China Holdings Company Limited (2019.HK) in the approximately US$216 million IPO and listing on the Hong Kong Stock Exchange
- Haitong International Capital Limited and CCB International Capital Limited and other underwriters in the approximately US$16.5 million IPO and listing of Huafang Group Inc. (3611.HK) with VIE structure on the Hong Kong Stock Exchange
- Yadea Group Holdings Limited (1585.HK) in its US$166 million global offering and IPO on the Hong Kong Stock Exchange
- China International Capital Corporation, Goldman Sachs, Morgan Stanley, Citi, and China Merchants Securities as underwriters in the US$925 million global offering and listing of the H shares of Red Star Macalline Group Corporation Ltd. (1528.HK) on the Hong Kong Stock Exchange
- Deutsche Bank and BOCI Asia Limited as underwriters in the US$60 million global offering and IPO of Fulum Group Holdings Limited (1443.HK) on the Hong Kong Stock Exchange
- Morgan Stanley, CITIC Securities Corporate Finance, ICBC International and other underwriters in the US$130 million global offering and IPO of China VAST Industrial Urban Development Company Limited (6166.HK) on the Hong Kong Stock Exchange
- Optics Valley Union Holding Company Limited (0798.HK) in its US$107 million global offering and IPO on the Hong Kong Stock Exchange
- Deutsche Bank as the sole global coordinator in the US$100 million global offering and IPO of Tsui Wah Holdings Limited (1314.HK) on the Hong Kong Stock Exchange
- Goldman Sachs and Deutsche Bank as underwriters in the US$336 million global offering and IPO of Sunac China Holdings (0445.HK) on the Hong Kong Stock Exchange. This transaction was awarded “Deal of the Year” by China Business Law Journal in 2010
- Macquarie, HSBC, and Nomura as underwriters in the US$200 million global offering and IPO of Top Spring International Holdings (1918.HK) on the Hong Kong Stock Exchange, the first-ever listing to provide a mixed media offering in Hong Kong at the time
- Macquarie, CCB International, and China Merchants Securities as underwriters in the US$108 million global offering and IPO of Shifang Holdings (1831.HK) on the Hong Kong Stock Exchange
Mergers and Acquisitions, and other Capital Markets Transactions:
- Home Office Development Limited, as offeror and purchaser in its HK$140 million acquisition of Howkingtech International Holding Limited (2440.HK), triggering a mandatory general offer obligation for all the outstanding shares and options of Howkingtech International under the Hong Kong Takeovers Code, with the maximum consideration of approximately HK$60 million
- China VAST Industrial Urban Development Company Limited (6166.HK) and its major shareholder in the sale of approximately US$191 million of shares to China Jinmao Holdings Group Limited, and the issuance of 6% convertible bonds of US$123 million with a 36 month maturity date to China Jinmao
- Joy Bright Investments Limited and its affiliates in the approximately US$233 million acquisition of the entire equity interests in Tianjin China Minsheng Drawin Technology Limited, which held a controlling stake in DIT Group Limited (726.HK), triggering a mandatory general offer obligation under Hong Kong Takeovers Code, with the maximum consideration of the offer as approximately US$58 million
- BOCOM International (Asia) Limited, as financial advisor to Qingdao Holdings International Limited (499.HK), in the company’s approximately US$305 million extreme very substantial acquisition of an 81.91% stake in Qingdao Rural Construction Finance Leasing
- The buyer consortium in its US$300 million privatization offer for all the H shares of Shandong Luoxin Pharmaceutical Group Stock Co., Ltd. (8058.HK)
- Joy Bright Investments Limited, the largest shareholder of Central China Real Estate Limited (“CCRE”) (832.HK), in the US$363 million acquisition of approximately 24% shares in CCRE from Singapore’s Temasek owned CapitaLand LF (Cayman) Holdings Co., Ltd., the second largest shareholder in CCRE
- China International Marine Containers (“CIMC”) (2039.HK) in the spin-off of 78.15% issued share capital of Pteris Global Limited to China Fire Safety (445.HK), an affiliate of CIMC, by way of a whitewash waiver
- Central China Real Estate Limited (832.HK) in its $132 million issuance of new shares to Joy Bright Investments Limited and third party subscribers by way of a whitewash waiver
- UBS, Nomura, ABC International and Haitong International as placing agents in the US$200 million top-up placement of Logan Property Holdings Company Limited (3380.HK)
- China Everbright International (0257.HK) in its US$472 million top-up placement
- China VAST Industrial Urban Development Company Limited (6166.HK) in its US$100 million convertible bonds and notes issue
- Yuzhou Properties Company Limited (1628.HK) in its US$200 million senior notes offering
- Various Hong Kong-listed companies in compliance issues related to Hong Kong Listing Rules, Companies Ordinance, and Codes on Takeovers and Mergers
Lillian speaks fluent English and Mandarin, and is native in Cantonese.
