Matthew Emsley

IPO

• Morgan Stanley Asia Limited, Citigroup Global Markets Asia Limited, Huatai Financial Holdings (Hong Kong) Limited and UBS AG Hong Kong Branch as joint sponsors of a leading innovative global pharmaceutical company rooted in China Jiangsu Hengrui Pharmaceuticals Co., Ltd.'s HK$9.9 billion mainboard listing on the Stock Exchange of Hong Kong 
• CITIC Securities (Hong Kong) Limited, CLSA Limited, CCB International Capital Limited and other underwriters on Beijing Yunji Technolgy Co., Ltd. (02670.HK)'s HK$593 million H-share listing on the Main Board of the Hong Kong Stock Exchange. This was the sixth listing under Chapter 18C.
  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. (02228.HK)'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.
• Huatai Financial Holdings (Hong Kong) Limited, ABCI Capital Limited, TFI Capital Limited and other underwriters of Bama Tea Co., Ltd. (06980.HK)'s HK$450 million H-share 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 mainboard listing on the Stock Exchange of Hong Kong
• Morgan Stanley Asia Limited and CITIC Securities (Hong Kong) Limited as joint sponsors and the underwriters of a peptide-focused CRDMO (Contract Research, Development, and Manufacturing Organisation) healthcare company Medtide Inc.'s HK$514 million mainboard listing on the Stock Exchange of Hong Kong.
• Financial Holdings (Hong Kong) Limited as the sole sponsor of an online retainer specialising in quality furniture and home furnishings firm AuGroup (SHENZHEN) Cross-Border Business Co., Ltd.'s HK$466 million mainboard listing on the Stock Exchange of Hong Kong.
• J.P. Morgan Securities (Asia Pacific) Limited and China Merchants Securities (HK) Co., Limited as joint sponsors of an Asia-Pacific container shipping company T.S. Lines Limited's HK$1,048 million mainboard listing on the Stock Exchange of Hong Kong.
• International Capital Corporation Hong Kong Securities Limited and Citigroup Global Markets Asia Limited as joint sponsors of China's leading agricultural company Dekon Food and Agriculture Group's HK$994 million listing on the Main Board of the Hong Kong Stock Exchange 
• Huatai Financial Holdings (Hong Kong) Limited and BOCI Asia Limited as joint sponsors of a China's leading private equity firm Tian Tu Capital Co., Ltd.'s HK$1,126 million mainboard listing on the Stock Exchange of Hong Kong.
• CICC as sole sponsor on of one of China's leading digital healthcare providers Neusoft Xikang Holdings Inc. (09686.HK)'s listing on the Main Board of the Hong Kong Stock Exchange.
• Hua Hong Semiconductor Limited as its Hong Kong legal advisers on the Hong Kong law aspects of its RMB21.2 billion (US$2.96 billion) initial public offering and listing on the STAR Market of the Shanghai Stock Exchange. This is the largest A-share listing in 2023 so far, and the third-largest listing on the STAR Market of the Shanghai Stock Exchange.
• China International Capital Corporation Hong Kong Securities Limited ("CICC") as sole sponsor and CICC, Deutsche Bank AG, CLSA Limited, Huatai Financial Holdings (Hong Kong) Limited, CMB International Capital Limited and BOCI Asia Limited as overall coordinators of a leading biopharmaceutical company Cutia Therapeutics 's HK$465 million mainboard listing on the Stock Exchange of Hong Kong
• China International Capital Corporation Hong Kong Securities Limited and Macquarie Capital Limited as joint sponsors and underwriters of a leading professional physician platform operator MedSci Healthcare Holdings Limited's HK$608 million mainboard listing on the Stock Exchange of Hong Kong
• Advised (in its capacity as a foreign counsel of) China International Capital Corporation as sole sponsor of one of the leading medical device manufacturers LEPU ScienTech Medical Technology (Shanghai) Co., Ltd. 's HK$567 million IPO and listing on the Main Board of the Hong Kong Stock Exchange.

M&A

• Sun Art Retail on the HK$3.2 billion mandatory general offer triggered by DCP Capital's HK$10 billion acquisition (This deal was awarded "M&A deal of the year" at ALB Hong Kong Law Awards 2025)
• Heng Fai Holdings Limited and other controlling shareholders of Heng Fai Enterprises Limited, a Hong Kong listed company with stock code 185, in a HK$730 million divestment of approx. 55% equity interest in Heng Fai Enterprises Limited, and advising 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 issues 
• Sun Art Retail Group Limited on the i) US$2.87 billion acquisition of 26.02% interest and ii) subsequent US$3.6 billion acquisition of 70.94% interest in Sun Art by Taobao China Holding Limited, the mandatory unconditional cash offer by China International Capital Corporation Hong Kong Securities Limited on behalf of Taobao China Holding Limited to acquire all of the issued shares in Sun Art, and the future business cooperation agreement between Sun Art and Alibaba

ECM

• MMG Limited (01208.HK) 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.