Skadden advised Midea Group on its Initial Public Offering (IPO) and listing on the Hong Kong Stock Exchange, raising approximately US$4 billion before the exercise of the over-allotment option.
The transaction marks the largest IPO in Hong Kong and the largest listing by a China-based company globally since 2022. This is also the second largest listing globally to date in 2024.
Midea is a global leading, technology-driven provider of smart home, commercial, and industrial solutions, offering a wide range of home appliances and solutions for enterprise customers, such as compressors and motors, commercial air conditioners, industrial robots and supply chain services.
The Skadden team was led by corporate partners Haiping Li, Shu Du, Kai Sun and Yilin Xu; with counsel Lillian Lian; associates Charles Shi, Tracy Lee, Xiaoqiu Huang, Jason Yip, and Emma Xu; staff attorney Jessica Chan; and international project manager Kristen Huang.
The team were supported by Skadden’s global resources, including partners Adrian J. S. Deitz, Brian J. Egan, Brooks E. Allen, Sean Shimamoto and Kevin T. Hardy.
