Nayuki Holdings Limited (“Nayuki”, Stock Code: 02150.HK) has successfully completed its listing on the Main Board of the Hong Kong Stock Exchange on June 30, 2021, the first teahouse company to have ever gone public. Nayuki offered 257.269 million shares globally at HKD 19.80 per share, and raised net proceeds of approximately HKD 4.842 billion (before the exercise of Over-allotment Option). J.P. Morgan Chase, CMB International and Huatai Financial served as co-sponsors for the listing. Jingtian & Gongcheng acted as the Chinese legal adviser to co-sponsors and the underwriter. 

Founded in 2015, Nayuki is China’s leading upmarket tea chain selling fresh-made tea. The founder was inspired by Chinese tea culture and the global coffee chain concept as he opened up the first Nayuki teahouse in Shenzhen, China, with a desire to re-invigorate the tea-drinking experience for those who crave fresher, better tasting, and more accessible tea drinks. As of today, Nayuki has expanded into 66 cities on the Chinese mainland as well as Hong Kong SAR and Japan. All told, the brand now owns more than 600 teahouses.

As the Chinese legal adviser to co-sponsors and the underwriter, Jingtian & Gongcheng's legal team provided one-stop, end-to-end legal services including conducting Chinese legal due diligence, assisting in third-party due diligence, visiting the joints on-site, analyzing and resolving critical legal issues, participating in the preparation of listing application documents, assisting in answering inquiries from the regulator, etc. The legal team overcame the impact of the COVID-19 pandemic on the project, and assisted the company in successfully listing, garnering unanimous recognition from the client.