MINISO, a fast-growing global value retailer, completed a US$608 million initial public offering (IPO) of 30.4 million American depositary shares (ADS) on the New York Stock Exchange (NYSE) on 19 October, each representing four class A ordinary shares of MINISO. JunHe and Skadden acted as the issuer’s China and US legal counsel, respectively. Jingtian & Gongcheng and Cleary Gottlieb acted as Chinese and US legal counsel, respectively, for the underwriters.
Financial technology giant Lufax made its debut on the NYSE on 30 October, raising about US$2.36 billion, which makes it both the largest ever fintech IPO and the biggest Chinese IPO since 2015 in the US. Lufax partners financial institutions to offer small business loans and wealth management products via its platform. Haiwen & Partners and Skadden acted as the issuer’s China and US legal counsel, respectively. Zhong Lun Law Firm and Kirkland & Ellis provided China and US legal advice, respectively, to the underwriters.
