Herbert Smith Freehills advises joint sponsors on Yan Palace's Hong Kong IPO 史密夫斐尔律师事务所作为联席保荐人律师为燕之屋香港上市提供法律服务

Leading international law firm Herbert Smith Freehills has advised China International Capital Corporation Hong Kong Securities Limited and GF Capital (Hong Kong) Limited as joint sponsors of Xiamen Yan Palace Bird's Nest Industry Co., Ltd. (1497.HK)'s listing on the Main Board of the Hong Kong Stock Exchange.

Yan Palace is a leading brand in China’s edible bird’s nest (EBN) product market. The company is the largest EBN product company in the traceable EBN market in China with a market share of 14% in terms of retail value in 2022. As of May 2023, Yan Palace had 91 self-operated stores and 214 offline distributors covering 614 distributor-operated stores in China.

Yan Palace's offering was a huge success and its Hong Kong public offer was oversubscribed by 87 times, making it one of the highest over-subscribed IPO in Hong Kong this year.

"We congratulate Yan Palace on its listing on the Hong Kong Stock Exchange," said Hong Kong partner Jason Sung. "We are delighted to have worked with the company and the joint sponsors on this IPO and wish them continued success."

"This is the second IPO on which our team has advised in the past two weeks, following the listing of Dekon Group on the HKEX on 6 December," added Jason.

Herbert Smith Freehills leads the legal market in advising sponsors and underwriters on Hong Kong IPOs. In the past two years, the firm has advised on 17 successful listings in Hong Kong, ranking second among 67 international and local law firms in Hong Kong, according to RyanBen Capital.

"We are dedicated to helping Chinese companies to access international investors through capital markets," said Hong Kong partner* Jin Kong. "We look forward to continuing working with issuers and sponsors to capitalise opportunities in 2024."

Partners Jason Sung and Jin Kong jointly led a cross-office team advising the joint sponsors, assisted by senior associates Jaime Fong, Chanan Ng and Brian Ge, associates Cyrus Wong, Sean Gao (Registered Foreign Lawyer), Samuel Au and Bryan Zhu, legal manager Hilary Chong, trainees Charles Chan and Jimmy Chu, as well as paralegals Kate Lam, Jessica Lu, Emily Wan, Dorothy Wong, Ethan Zeng, Philip Yeung and Mona Wang.

Legal manager Marine Jin led Herbert Smith Freehills Kewei Joint Operation’s Alternative Legal Services business to provide high-efficiency solutions for verification and other document-intensive processes during the listing, assisted by legal analyst Baofang Zhang.

*According to regulatory requirements, Jin Kong's official title is Senior Registered Foreign Lawyer in Hong Kong.

全球领先的律师事务所史密夫斐尔于厦门燕之屋燕窝产业股份有限公司(01497.HK)在香港联交所主板上市的项目中担任联席保荐人中国国际金融香港证券有限公司和广发证券(香港)经纪有限公司的律师并提供法律服务。

燕之屋是中国燕窝产品市场的领先品牌。按2022年零售额计算，燕之屋是中国溯源燕窝市场最大的燕窝产品公司，市场份额为14.0%。截至2023年5月31日，公司拥有全国性的线下销售网络，由91家自营门店及214名线下经销商组成，涵盖中国614家经销商门店。

燕之屋此次上市取得了巨大成功，公开发行3,200,000股，超额认购87倍（截至2023年12月7日），创下了2023年香港资本市场IPO上市超额认购记录。

史密夫斐尔香港办公室合伙人宋子淳表示：“祝贺燕之屋成功在联交所上市。我们非常荣幸在这次IPO中与燕之屋和保荐人合作，衷心祝愿他们不断取得成功。”

宋子淳表示：“这是我们团队在两周内服务的第二家在港上市IPO。此前，我们助力德康集团于12月6日在联交所上市。”

史密夫斐尔在为保荐人和承销人就香港IPO上市提供法律服务方面处于市场领先地位。根据瑞恩资本(Ryanben Capital)的数据，本所在过去两年里为17家公司在香港上市提供法律服务，在香港67家国际和本土律所中名列第二。

史密夫斐尔香港办公室合伙人*孔瑾表示：“我们致力于支持中国企业通过资本市场接触国际投资者。展望2024年，我们期待与更多发行人和承销人共展宏图。”

合伙人宋子淳和孔瑾率领多地办公室的律师团队为此次上市的联席保荐人提供法律服务。主要团队成员包括方靖颐(Senior Associate)、伍庆哲(Senior Associate) 、葛轶(Senior Associate)、王令轩(Associate)、高炜华(Registered Foreign Lawyer)、区健聪(Associate) 、朱步凡(Associate)、种欢子(Legal Manager)、陈仲桦(Trainee)、朱汶轩(Trainee)、林乐彤(Paralegal)、卢嘉铮(Paralegal)、温颖淘 (Paralegal)、黄心驰(Paralegal)、曾森(Paralegal)、杨文辉(Paralegal) 和王梦(Paralegal)。

金燊(Legal Manager)率领的科伟史密夫斐尔联营办公室替代性法律服务(ALT)联合团队在上市项目期间为招股书验证及其他文件密集型工作提供高效率的解决方案。张宝方(Legal Analyst)提供支持。

*根据监管规定，孔瑾律师在香港的官方职位为高级注册外国律师。

NOTES FOR EDITORS

Operating from 24 offices across Asia Pacific, UK, EMEA and North America, Herbert Smith Freehills is at the heart of the new global business landscape. With a nearly 40-year history in Asia, Herbert Smith Freehills has over 300 lawyers and legal professionals in the region, advising clients on complex corporate, disputes and finance matters from offices in Bangkok, Beijing, Hong Kong, Jakarta*, Kuala Lumpur, Shanghai*, Singapore* and Tokyo.

*In Shanghai and Beijing, 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 alongside its affiliate 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.

编辑垂注

史密夫斐尔律师事务所在亚太地区、欧洲、中东、非洲和北美设有24个办公室，深入全球新商业格局的核心。史密夫斐尔专注亚洲市场近40年，拥有300多位律师和法律专业人士，在曼谷、北京、香港、雅加达*、吉隆坡、上海*、新加坡*和东京设有办公室，为客户就复杂的公司、争议和融资事务提供法律服务。

*在上海和北京，史密夫斐尔通过与科伟律师事务所联营在提供外国法顾问的同时也就中国法提供法律服务。在雅加达，史密夫斐尔的国际法律顾问与印度尼西亚领先的商业和公司事务律师事务所Hiswara Bunjamin & Tandjung共同执业。在新加坡，史密夫斐尔与新加坡律师事务所Prolegis LLC于2015年建立了正式法律联盟，借此就新加坡法律提供咨询。