Sidley Austin LLP acted as Hong Kong legal counsel for the joint sponsors and joint representatives China Merchants Securities (HK) Co., Limited and China Securities (International) Corporate Finance Company Limited and underwriters in the offering.
Strawbear Entertainment Group (HKEX: 2125) (Strawbear) announced its initial public offering (IPO) on the Main Board of the Stock Exchange of Hong Kong (HKEX). The offering size was approximately HK$975 million (equivalent to approximately US$125.74 million).
Strawbear is a major drama series producer and distributor in the P.R.C., covering the investment, development, production, and distribution of TV and web series. According to the Frost & Sullivan report, Strawbear ranked fourth among all drama series producers and distributors in the P.R.C. in terms of the number of first-run broadcast TV series in 2019, representing a market share of 6.0%.
The Sidley team acted as Hong Kong legal counsel for the joint sponsors and joint representatives China Merchants Securities (HK) Co., Limited and China Securities (International) Corporate Finance Company Limited and underwriters in the offering. Underwriters included China Merchants Securities (HK) Co., Limited, China Securities (International) Corporate Finance Company Limited, China Renaissance Securities (Hong Kong) Limited, ABCI Securities Company Limited, ABCI Capital Limited, Haitong International Securities Company Limited, BOCOM International Securities Limited, Huatai Financial Holdings (Hong Kong) Limited, CMB International Capital Limited, Futu Securities International (Hong Kong) Limited, US Tiger Securities, Inc., and China Galaxy International Securities (Hong Kong) Co., Limited.
The Sidley team on this IPO was led by partners Mengyu Lu (Picture) and Meng Ding. Other team members included counsel Samantha Peng, associate Guanlin Wang, China advisors Chuanwen Wang and Stella Yang, and legal assistants Meiyi Li, Ru Jia and Ashley Guo. Legal manager Ashlee Wu, Associate Bill Feng, and China advisors Pianpian Chen and Eason Qu also provided full support for the listing.
Involved fees earner: Meng Ding – Sidley Austin LLP; Mengyu Lu – Sidley Austin LLP; Samantha Peng – Sidley Austin LLP; Guanlin Wang – Sidley Austin LLP; Chuanwen Wang – Sidley Austin LLP; Stella Yang – Sidley Austin LLP;
Law Firms: Sidley Austin LLP;
Clients: ABCI Capital Limited; ABCI Securities Company; China Galaxy International; China Merchant Securities; China Renaissance Securities Limited; China Securities Co. Ltd; CMB International Capital Limited; Futu Securities International; Haitong International Capital Limited; US Tiger Securities;