Shearman & Sterling advised Bank of America Merrill Lynch and Morgan Stanley as joint sponsors, joint global coordinators, joint bookrunners and joint lead managers on the approximately US$1.15 billion initial public offering (before the exercise of the over-allotment option) of Dali Foods Group Company Limited (“Dali Foods”) on the Main Board of The Stock Exchange of Hong Kong Limited.
The successful completion marks the first Chinese food and beverage company to list in Hong Kong in 2015. This is also reported as the largest offering year to date for Chinese privately owned enterprise in 2015. Dali Foods is a leading branded snack food and beverage company in China with a diversified multi-brand product portfolio focusing on high-growth product categories.
The Shearman & Sterling team of lawyers in the firm’s Hong Kong office included partners Paloma Wang, Colin Law (Hong Kong-Capital Markets) and Alan Yeung (U.S.-Capital Markets); associates Clement Jiang (Hong Kong-Capital Markets) and Stella Hu (U.S.-Capital Markets); and trainee Isabella Ma (Hong Kong-Capital Markets).
