The respected China Business Law Journal has recently published “The Deals of the Year 2018”. Jingtian & Gongcheng made its name on the list and gained great achievements yet again for the following deals.
Haidilao Hong Kong IPO
Deal points: Haidilao Hot Pot is a fast-growing Chinese food brand, famous for its thoughtful service and pleasant dining experience. Among the Hong Kong listed projects, Haidilao’s share price reached the highest value in the target range, raising a total of HK$7.56 billion ($963 million), making it the fifth largest IPO project in Hong Kong in 2018.
iQiYi NASDAQ IPO
Deal points: iQiYi is China’s largest video entertainment service platform, including e-commerce, games, movie tickets and other businesses. In March 2018, iQiYi officially listed on Nasdaq, USA, and raised 2.25 billion US dollars. It was the largest U.S. stock IPO from Asia in the first quarter of 2018.
Inter Milan: Issuance of 300 Million Euros of Guaranteed Bonds
Deal points: Inter Milan officially announced the issuance of 300 million euros of guaranteed bonds, aimed at realizing the circulation of funds within the club system. These bonds will expire in 2022.
C/C+Round Financing of SenseTime:
Deal points:
In April and May 2018, SenseTime concluded C and C+ rounds of financing, with a total of $600 million and $620 million respectively. After the completion of financing, the total valuation of SenseTime is 4.5 billion US dollars, which is the highest valuation unicorn in the field of artificial intelligence.
A Round Financing of Suning Sports
Deal points:
Suning Sports Group Limited, as the main body of financing, launched external private equity financing for the first time. The total amount of this financing is over 600 million US dollars, which has been the largest financing project in sports industry, also the largest A round financing project in recent years.
Xiaomi Hong Kong IPO
Deal points:
China Electronics Company Xiaomi was launched in Hong Kong, raising HK$36 billion (US$4.7 billion). It has become the world’s largest technology company since Alibaba went to the US in 2014. This is also the first listing project since the SEHK approved to allow weighted voting rights to be listed under the dual ownership structure.
Administrative Penalty Hearing on CITIC Securities for Being Suspected of Irregularities in Opening Credit Accounts for Sidu (Shanghai) Trading Company ”
Deal points:
During the period of abnormal fluctuations in the stock market in 2015, the CSRC launched a case investigation into CITIC Securities, China’s largest securities company. In May 2017, the China Securities Regulatory Commission (CSRC) concluded its investigation and issued a notice of administrative penalty to CITIC Securities. It was believed that its violation was the operation of Sidu (Shanghai) Trading Company and it was intended to impose an administrative penalty of about 370 million RMB fine on CITIC Securities.
Jingtian & Gongcheng represented CITIC Securities in the hearings organized by the Securities Regulatory Commission. After the hearing, the SFC finally decided in November 2018 that the facts of CITIC Securities involved in the case were not valid and decided to end the case.
The awards were based on the nominations of the editorial team after their careful and comprehensive evaluation of the deals or cases, where the main criteria include the importance, complexity and innovation as well as scale.
