Matthew Emsley

Equity Capital Markets

• CITIC Securities, Goldman Sachs and CICC as joint sponsors to Luxshare Precision Industry Co., Ltd., a leading intelligent manufacturing and technology company, on its HK$24.3 billion listing on the Main Board of the Hong Kong Stock Exchange, one of the largest IPOs in Hong Kong in 2026
• Eastroc Beverage, as its issuer counsel, on its over HK$ 10 billion listing on the Main Board of the Stock Exchange of Hong Kong 
• Morgan Stanley Asia Limited, Citigroup Global Markets Asia Limited, Huatai Financial Holdings (Hong Kong) Limited and UBS AG Hong Kong Branch as joint sponsors to Jiangsu Hengrui Pharmaceuticals Co., Ltd. on its HK$9.9 billion (US$1.3 billion) Hong Kong IPO in May 2025, the largest healthcare IPO in Hong Kong in the past five years. The deal was recognised as a Deal of the Year at the China Business Law Awards 2025
• Medcaptain Medical Technology Co., Ltd., as its issuer counsel, on its listing on the Main Board of the Hong Kong Stock Exchange
• CITIC Securities as the sole underwriter of HJ Science Co., Ltd.’s HK$1.1 billion listing on the Main Board of the Hong Kong Stock Exchange under Chapter 18A of the Hong Kong Listing Rules
• CITIC Securities (Hong Kong) Limited as the Sole Sponsor and CLSA Limited, China International Capital Corporation Hong Kong Securities Limited, Jefferies Hong Kong Limited, Deutsche Bank AG, Hong Kong Branch and CMB International Capital Limited as the Overall Coordinators of QuantumPharm Inc.'s HK$989 million listing on the Main Board of the Hong Kong Stock Exchange. QuantumPharm is the first listing under Chapter 18C, a new regime introduced by the Hong Kong Stock Exchange in March 2023 for specialist technology companies
• CITIC Securities as the sole underwriter of UISEE Technologies (Beijing) Co., Ltd.’s HK$870 million listing on the Main Board of the Hong Kong Stock Exchange under Chapter 18C of the Hong Kong Listing Rules
• CITIC Securities (Hong Kong) Limited, CLSA Limited, CCB International Capital Limited and other underwriters on Beijing Yunji Technolgy Co., Ltd.'s HK$593 million listing on the Main Board of the Hong Kong Stock Exchange
• Morgan Stanley Asia Limited, CITIC Securities (Hong Kong) Limited and CLSA Limited as joint sponsors and underwriters of a leads biolabs company Nanjing Leads Bioloabs Co. Ltd.'s HK$1.29 billion listing on the Main Board of the Hong Kong Stock Exchange
• MMG Limited on a HK$9 billion rights issue, one of the largest equity fundraising exercises in Hong Kong's capital markets this year. The rights issue was 2.8 times oversubscribed. MMG raised approximately HK$9,079 million (US$1,164 million) before expenses through a rights issue of 3.46 billion shares. The company issued two new shares for every five shares held for a subscription price of HK$2.62 per share

M&A

• Sun Art Retail on the HK$3.2 billion mandatory general offer triggered by DCP Capital's HK$10 billion acquisition. The deal was awarded "M&A Deal of the Year" at the ALB Hong Kong Law Awards 2025
• Heng Fai Holdings Limited and other controlling shareholders of Heng Fai Enterprises Limited on the HK$730 million divestment of an approximately 55% equity interest in Heng Fai Enterprises Limited, and Heng Fai Enterprises Limited in relation to the subsequent mandatory general offer by the purchaser for all the remaining shares not owned by it or parties acting in concert with it pursuant to the Takeovers Code and associated regulatory compliance matters
• Sun Art Retail Group Limited on (i) Taobao China Holding Limited's US$2.87 billion acquisition of a 26.02% stake in Sun Art and (ii) its subsequent US$3.6 billion acquisition of a 70.94% stake in Sun Art, the mandatory unconditional cash offer by China International Capital Corporation Hong Kong Securities Limited on behalf of Taobao China Holding Limited for all issued shares of Sun Art, and the business cooperation agreement between Sun Art and Alibaba