Herbert Smith Freehills advises on S.F. Holding's IPO, second-largest listing in Hong Kong this year

Leading international law firm Herbert Smith Freehills has advised Asia's largest logistics provider S.F. Holding Co., Ltd. (06936.HK, 002352.SZ) on its global offering and listing on the Main Board of the Hong Kong Stock Exchange.

The IPO raised approximately HK$5.83 billion, making it the second-largest listing in Hong Kong this year.

S.F. Holding is a leading global integrated logistics service provider, offering a full spectrum of high-quality logistics services and connects Asia with the world. The company is the fourth-largest logistics service provider globally, and the largest in Asia by 2023 revenue and was named one of the Top Five Most Admired Chinese Companies by Fortune Magazine this year.

"We congratulate S.F. Holding, a household Chinese enterprise which is globally leading, on achieving another important milestone," said Jason Sung, Head of China Corporate. "We are thrilled to have helped our established client, S.F. Holding on this landmark Hong Kong IPO."

Herbert Smith Freehills has previously advised SF on a number of high-profile transactions, including SF Express' US$792 million acquisition of Deutsche Post DHL's China supply chain business and an ongoing strategic partnership, the acquisition of 75% of HAVI group's cold chain business in mainland China, Hong Kong and Macau, and SF Intra-city’s (09699.HK) HK$2.15 billion Hong Kong IPO.

"It is a privilege to have worked with our longstanding client on another high-profile transaction," said Hong Kong partner Jeremy Shen. "With several decades of expertise in capital markets, our team is fully equipped to help Chinese companies on complex fundraisings."

Herbert Smith Freehills is market leader in advising sponsors and underwriters on Hong Kong IPOs. In 2022 and 2023, the firm advised on 17 successful listings on the Hong Kong Stock Exchange, ranking second among 70 international and local law firms in Hong Kong, according to RyanBen Capital.

"This is the third successful Hong Kong IPO on which we have advised in the past month," said Hong Kong partner Jin Kong*. "We look forward to seeing more Chinese companies capture growing opportunities in capital markets."

Partners Jason Sung, Jeremy Shen and Jin Kong jointly led a cross-office team advising the client, assisted by senior associates Jaime Fong and Brain Ge, associates Cyrus Wong, Kaiwen Sun, Haiyun Chen*, Kristina Li and Sean Gao*, and legal assistant Primrose Ho. Partner and Head of Beijing Stanley Xie, senior associate Echo Shen, associates Bryan Zhu and June Yip, trainee solicitor Kelvin Chung, and legal assistant Leah Zhi also provided support.

*According to Hong Kong regulatory requirements, Jin Kong's official title is Senior Registered Foreign Lawyer, Haiyun Chen and Sean Gao's official titles are Registered Foreign Lawyer.

NOTES FOR EDITORS

With more than 40 years of history in Asia, Herbert Smith Freehills provides premium legal advice on dispute resolution, projects and transactions to the world’s most important organisations operating in and from the region. In Asia, the firm advises across industry sectors and strategically important areas, including private capital, ESG, energy transition and technology and digitalisation, from offices in Bangkok, Beijing, Hong Kong, Jakarta,* Shanghai,* Singapore* and Tokyo.

*In Shanghai, the firm is part of a joint operation with Kewei, allowing access to China legal services alongside Herbert Smith Freehills' international expertise. In Jakarta, Herbert Smith Freehills' international counsel practise on secondment at its associate firm, Hiswara Bunjamin & Tandjung, one of Indonesia’s leading commercial and corporate law firms. In Singapore, Herbert Smith Freehills entered a Formal Law Alliance (FLA) with Prolegis LLC in 2015, that allows access to Prolegis' Singapore law capabilities.