15 July, 2016
Davis Polk advised Yihai International Holding Ltd. in connection with its initial public offering and listing on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A and Regulation S. The gross proceeds from the offering amounted to approximately HK$858 million (US$111 million) prior to any exercise of the over-allotment option.
Yihai International is a leading and fast-growing compound condiment manufacturer in China. It offers hot pot condiment products and Chinese-style compound condiment products. Yihai International is the second-largest hot pot condiment manufacturer in China as measured by sales value in 2015, according to Frost & Sullivan.
The Davis Polk corporate team included partners Bonnie Y. Chan, Antony Dapiran and Li He, associates Stephenie Fung and Mun Bbill Tang, registered foreign lawyers Yazhe Liu, Ran Li and Xiaotong Jia. The tax team included partner John D. Paton and associate Omer Harel. Counsel Jeanine P. McGuinness provided OFAC advice. Former associate Jake H. Wang provided 1940 Act advice. Members of the Davis Polk team are based in the Hong Kong, Beijing, London, Washington DC and New York offices.
