IPOs

• Baidu HK$23.9 billion IPO and secondary listing on the Hong Kong Stock Exchange
• InSilico Medicine HK$2.62 billion Hong Kong IPO
• HashKey Holdings HK$1.6 billion Hong Kong IPO
• Sunmi Technology HK$908.7 million Hong Kong IPO
• Shenzhen Hepalink Pharmaceutical Group HK$4.05 billion Hong Kong IPO
• InnoCare Pharma HK$2.24 billion Hong Kong IPO

Equity and equity-linked securities 

• Li Auto $2 billion at-the-market offering
• Youdao $238 million SEC-registered equity follow-on offering
• Atour Lifestyle $174.4 million secondary offering
• Sea Limited $1.15 billion Rule 144A and Reg S convertible senior notes offering
• Trip.com $500 million Reg S exchangeable senior notes offering

De-SPAC

• Black Spade Acquisition $23 billion combination with VinFast
• Provident Acquisition $1.02 billion combination with Perfect

Debt

• Inner Mongolia Yili Industrial Group $500 million Reg S guaranteed bond offering
• Hopson Development $400 million Reg S high-yield notes offering