We advised Seres on its IPO and HKEX listing

Davis Polk advised Seres Group Co., Ltd., a company whose A shares are listed on the Shanghai Stock Exchange, in connection with its initial public offering and listing of H shares on the Hong Kong Stock Exchange in reliance on Regulation S. The gross proceeds of the offering were approximately HK$14.3 billion prior to the exercise of the over-allotment option.

The listing marks the largest Hong Kong/U.S. IPO in the automotive sector in the last four years.

Seres is a technology company focused on new energy vehicles, including the research and development, manufacturing, sales and services of new energy vehicles as well as core NEV components.

The Davis Polk corporate team included partners Li He, Jason Xu and Ran Li, registered foreign lawyer Xiaofei Ye and associates Michelle Chow, Andrew Pu and Ching Suen. Members of the Davis Polk team are based in the Hong Kong and Beijing offices.

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