Linklaters has advised J&T Global Express Limited (J&T Express) on its HK$8.3bn strategic transaction with S.F. Holding Company Limited (S.F. Holding), involving J&T Express’ subscription of new H shares in S.F. Holding and the issuance by J&T Express of new Class B shares to S.F. Holding. The transaction constitutes a major transaction of J&T Express under the Hong Kong Listing Rules.
Following completion of the transaction, J&T Express holds approximately 4.29% of S.F. Holding’s enlarged issued share capital, while S.F. Holding has acquired a strategic equity stake in J&T Express through the subscription of newly issued Class B shares.
J&T Express is a global logistics service provider with operations across China, Southeast Asia and other international markets. S.F. Holding, which is dually listed on the Shenzhen Stock Exchange and the Hong Kong Stock Exchange, is the largest integrated logistics service provider in Asia and the fourth largest globally. The transaction is expected to strengthen collaboration between the two companies and enhance J&T Express’ competitiveness in the global logistics market.
The cross-practice Linklaters team was led by partner and Head of Greater China ECM Christine Xu and corporate partner Queenie Tong, with specialist support from antitrust & foreign investment partner Marcus Pollard on the antitrust aspects of the transaction.
Linklaters’ partner and Head of Greater China ECM Christine Xu commented:
“We are pleased to have advised J&T Express on this strategic transaction involving a sophisticated reciprocal share issuance structure, a dual-listed counterparty and a range of regulatory considerations. This mandate reflects the strength of our integrated platform in bringing together capital markets, corporate and regulatory expertise to support our clients on complex transaction.”
With over 50 years of on-the-ground presence in Hong Kong SAR and the wider Asia region, Linklaters combines deep local insights with the strength and expertise of its global full-service platform. The Greater China ECM team provides seamless legal support on pre-IPO investments, IPOs, post-listing compliance and equity financings, including advising on share placings for CATL, S.F. Holding, Minieye Technology and RoboSense.
