Herbert Smith Freehills Kramer (HSF Kramer), DeHeng Law Offices, O’Melveny & Myers LLP (OMM), and Jia Yuan Law Offices advised on Eastroc Beverage Group’s HK$10.1 billion Hong Kong Stock Exchange listing.
The transaction involved Eastroc Beverage Group Co. Ltd. Listing on the Main Board of the Hong Kong Stock Exchange, raising approximately HK$10.1 billion (USD ~1.3 billion) before the exercise of the over-allotment option. The listing marks the company’s first A+H dual listing following its Shanghai listing in May 2021 (605499.SS) and attracted cornerstone investments totaling approximately USD 640 million from 16 institutional investors. The listing represents a significant milestone for China’s functional beverage sector, establishing Eastroc as the largest functional beverage company in China by sales volume from 2021 to 2024 and highlighting the growing interest in Chinese consumer brands on international capital markets.
Huatai Financial Holdings (Hong Kong) Limited, Morgan Stanley Asia Limited, and UBS Securities Hong Kong Limited acted as joint sponsors for the offering.
Herbert Smith Freehills Kramer advised Eastroc Beverage Group Co. Ltd.. The transaction team included Partners Matt Emsley, Stanley Xie, Jeremy Shen, and Jin Kong, supported by Jaime Fong, Brian Ge, Cathy Zhang, Reagan Li, Bo Tong, Leah Zhi, Francis Wang, Grace Bian, Hugo Leung, Gigi Lo, and Emily Wan.
DeHeng Law Offices advised Eastroc Beverage on PRC law matters. The team included Senior Partners Tang Hailong, Pu Hong, and Xu Shuai.
O’Melveny & Myers LLP advised the joint sponsors and other underwriters. The team was led by Partners Ke Geng, Ke Zhu, and Vincent Wang, with Associate Berton Wang, China Associate Silvia Huang, and Legal Consultant Simon Xu. Partner Rob Plesnarski advised on FEC regulations, Partners Luc Moritz and Billy Abbott and Associate Arsalan A. Memon advised on tax matters, Partner David J. Ribner advised on sanctions compliance, and Associate Estella Zhang provided additional support.
Jia Yuan Law Offices advised the joint sponsors Huatai, Morgan Stanley, and UBS. The team included Founding Partner Xu Ying (Mainland China), Senior Partner Wanda Woo (Hong Kong), and Partner Liu Xing (Mainland China).
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