Bird & Bird advised Chinese smartphone manufacturer Transsion Holdings as local Hong Kong and Singapore legal advisersin relation to its initial public offering and listing on the Main Board of the Hong Kong Stock Exchange. The transaction follows on from the company’s existing listing on the Shanghai Stock Exchange’s STAR Market.
The company offered 86,648,300 H shares at HK$35.30 each, raising approximately HK$3.1 billion (US$ 390 million). The Hong Kong public offering was 4.46 times subscribed, while the international offering was 2.55 times subscribed.
Transsion is expanding its presence in emerging markets, with a sizeable share of the African mobile phone market through its three brands TECNO, itel and Infinix. The proceeds from the listing will be used to fund AI research and development, as well as support mobile internet services and Internet of Things (IOT) products, among others.
A cross-border team advised Transsion Holdings on local legal and regulatory issues pertaining to Hong Kong and Singapore law in relation to the transaction, with corporate partners David Cheng and Marcus Chow leading on Hong Kong and Singapore legal matters respectively and supported by senior associate Philip Chui (Hong Kong) and associates Tiffany Kwok (Hong Kong) and Shae-Yenne Eu (Singapore).
