ZJLD Group HK$5.3 billion IPO
We advised ZJLD on its IPO and HKEX listing
Davis Polk advised ZJLD Group Inc in connection with its initial public offering and listing on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A / Regulation S. The gross proceeds from the offering were approximately HK$5.3 billion prior to the exercise of the over-allotment option.
ZJLD is a baijiu company in China devoted to offering premium baijiu products. It operates four major brands of the liquor in China, including the flagship brand Zhen Jiu, a thriving brand Li Du, as well as two regional leading brands Xiang Jiao and Kai Kou Xiao. Through this brand portfolio, ZJLD promotes traditional Chinese baijiu culture by developing a broad selection of baijiu products to appeal to different consumer preferences and capture broader market opportunities.
The Davis Polk corporate team included partners Li He, Jason Xu, Yang Chu and Ran Li, associate Calvin Lam and registered foreign lawyer Yin Wu. Partner Kara L. Mungovan and associates Kelli A. Rivers and Ya Sheng Lin provided tax advice. Associate Harrison Perry provided advice regarding the Investment Company Act of 1940. Members of the Davis Polk team are based in the Hong Kong, Beijing, New York and London offices.