Li is co-head of our practice in Asia (excluding Japan). A leading adviser to companies in Greater China and across Asia, he has deep experience guiding companies through their most critical milestones, from pre-IPO financing through listing and beyond.
Over the past two decades, Li advised on more than 50 U.S. IPOs and more than 60 HKEX IPOs, including some of Asia’s most important, complex and groundbreaking deals – approximately 50 of which have won “Best IPO of the Year” awards. He is particularly noted for his understanding of key verticals, from technology to healthcare and pharma to financial institutions. This knowledge can make the difference in resolving the thorniest structural, regulatory and disclosure challenges facing issuers.
Asian Legal Business cites Li’s "deep insights, outstanding skills, and extensive experience." In 2020, he was named the "IPO Lawyer of the Year" at the Asia Legal Awards and the "Dealmaker of the Year - International" at the ALB China Law Awards.
- Over 50 U.S. IPOs, including Tuya, KE Holdings, Kingsoft Cloud, Youdao, DouYu, Tiger Brokers, Tencent Music, iQIYI, JD.com, iKang Healthcare, Shanda Games and General Motors. Li acted on three of the five largest U.S. IPOs by Chinese companies of all time.
- Over 60 HKEX IPOs, including groundbreaking work for marquee issuers like Meituan Dianping, Ming Yuan Cloud and Pop Mart. Li has advised on cutting-edge deals including biotech listings (e.g. Tigermed, RemeGen, JOINN Labs) and secondary/“homecoming” listings (e.g. Baidu, NetEase, BeiGene). Li has led on landmark deals for state-owned companies like Agricultural Bank of China, ICBC, China Construction Bank and Air China. Li has acted on the three largest HKEX IPOs by Chinese companies of all time.
- Deep IPO experience across key sectors:
- Technology, media and telecom. Li advises leading companies in every key TMT subsector, including some of the largest and most dynamic of China’s tech companies, from Meituan Dianping, Baidu and iQIYI, to KE Holdings, NetEase and Tencent Music.
- Healthcare and pharma. Li advised on some of the most important China healthcare IPOs ever, including Tigermed, Ping An Healthcare, BeiGene and 3SBio.
- Financial institutions. Li advised on some of the largest China financial institutions IPOs ever, from major state banks like Agricultural Bank of China, China Construction Bank, and ICBC, to companies on the cutting edge of financial technology and modernization.
- Major follow-on equity and equity-linked offerings, share placings and block trades for U.S- and HKEX-listed companies.
- Investment-grade and high-yield bond offerings by issuers like Tencent Music, CNOOC, Sinopec, China Cinda Asset Management, China Reinsurance and China Three Gorges.
- Complex mergers and acquisitions, including listed company mergers (including advising DouYu on its merger with HUYA), going-private transactions, venture capital and growth round investments, pre-IPO and IPO-concurrent private placements, PIPEs, and strategic cooperation agreements and joint ventures.
- Ongoing compliance, governance and strategic advice to listed companies and investment banks across the region.
- Editor, Yale Journal of International Law
- Partner, 2003-present