DLA Piper advises S.F. Holding on global offering and secondary listing on Hong Kong Stock Exchange
An international DLA Piper team spanning Hong Kong, Thailand, and the US has advised S.F. Holding Co., Ltd on its global offering and secondary listing on the main board of the Hong Kong Stock Exchange. The offering seeks to raise up to HKD6.2 billion through the sale of 170 million shares at a price ranging from HKD32.30 to HKD36.30 each.
S.F. Holding, China’s largest express delivery company, is leveraging the listing to enhance its logistics services in Asia, particularly in Southeast Asia. The company has already drawn significant interest from cornerstone investors, including a unit of smartphone maker Xiaomi, Oaktree Capital Management, and a vehicle backed by the family of Henry Cheng Kar-shun, chairman of New World Development.
The transaction was led by Christina Loh, with support from Heng Loong Cheong. Christina and Heng are both Corporate partners based in Hong Kong. Bangkok Corporate partner Samata Masagee advised on the Thai law aspects of the transaction, while US Corporate partner Jinjian Huang provided US law advice. Other key team members included senior associate Tommy Lam and associate Jay Choy from Hong Kong, associate Jason Lee from the US, and senior associate Prateep Lumrungruang from Thailand.
Heng Loong Cheong said: “This is a significant milestone for S.F. Holding which underscores the company’s ambitious growth plans to strategically expand in the global logistics market. Our cross-border collaboration and extensive knowledge across the region were crucial in achieving this successful listing.”
Christina Loh added: “This deal exemplifies DLA Piper’s commitment to providing comprehensive legal support across multiple jurisdictions. It highlights our ability to navigate complex regulatory environments and deliver successful outcomes for our clients.”
DLA Piper continues to advise on some of the most prominent IPOs and secondary listings in Asia, demonstrating the firm’s commitment to delivering exceptional legal counsel across jurisdictions, industries, and regulatory regimes.