Sidley acted as Hong Kong and U.S. counsel to Softcare Limited (Softcare) (HKEX: 2698) in its initial public offering (IPO) and listing on the Main Board of the Hong Kong Stock Exchange (HKEX). The offering has raised gross proceeds of approximately HK$2.38 billion (US$306.6 million). China International Capital Corporation Hong Kong Securities Limited, CITIC Securities (Hong Kong) Limited and GF Capital (Hong Kong) Limited acted as joint sponsors in the transaction.
Softcare develops, manufactures and sells baby and feminine hygiene products. It focuses on fast-growing emerging markets including Africa, Latin America and Central Asia. Based on sales volume in 2024, Softcare ranked first in both the baby diapers market and the sanitary pads market in Africa, according to Frost & Sullivan.
The Sidley team was led by partners Sherlyn Lau and Meng Ding (both China Corporate and Finance). Other team members included Iris Yuen (China Corporate and Finance), Scarlet Feng, Jacob Zhao (both Capital Markets), William Lau, Maggie Bai, Hannah Wong, Andy Tam and Wendy Ho (all China Corporate and Finance).
Sidley’s Hong Kong IPO team is widely recognized for its strong transactional track record and is one of the highest-ranking international law firms for volume of Hong Kong IPOs completed. In recognition of this, the team has received several accolades, including being named “Securities Firm of the Year” at Law.com International’s Asia Legal Awards 2024 and deemed “highly recommended” by the FT Innovative Lawyers APAC Awards 2025 in the category of “Innovative Lawyers in Unlocking Capital.”
