Sidley advised on the approximately HK$1 billion (US$128.5 million) initial public offering (IPO) and listing of special purpose acquisition company (SPAC) TechStar Acquisition Corporation (HKEX: 7855) on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX). Sidley acted as the Hong Kong and U.S. legal counsel for the joint sponsors Zero2IPO Capital Limited and China Securities (International) Corporate Finance Company Limited, as well as the underwriters.
The SPAC promoters are CNCB (Hong Kong) Capital Limited, a SFC licensed corporation and an indirect subsidiary of Shanghai and Hong Kong listed China CITIC Bank Corporation Limited; Zero2IPO Consulting Group Co., Ltd., an investment management company; Zero2IPO Capital Limited, a SFC licensed corporation; and individuals Mr. NI Zhengdong, Mr. LI Zhu and Mr. LAU Wai Kit.
TechStar Acquisition Corporation intends to focus its efforts on identifying high-growth de-SPAC targets in the “new economy” sector in China, including but not limited to innovative technology, advanced manufacturing, healthcare, life sciences, culture and entertainment, consumer and e-commerce, green energy and climate actions industries that align with the national economic trends and industrial policies.
The Sidley team was led by partners Claudia Yu and Meng Ding. Other team members included senior associate Kevin Chan; associates Maggie Bai and Vicky Tse; senior legal assistants Alisa Zhang, Iris Lao and Sia Yang; and legal assistants Krisandra Tung and Andy Tam.
Sidley has one of the largest Hong Kong IPO teams in the region, with more than 100 lawyers and legal professionals. We have been ranked as a leading international law firm in China capital markets by Chambers Asia Pacific and Chambers Greater China Region for years. As a pioneer in Hong Kong listings, Sidley has a strong proven track record in the first wave of precedent-setting deals in the past three decades, from Chapter 18A biotech listings, Chapter 19C secondary listings, dual primary listings to Chapter 18B SPAC listings.
The SPAC promoters are CNCB (Hong Kong) Capital Limited, a SFC licensed corporation and an indirect subsidiary of Shanghai and Hong Kong listed China CITIC Bank Corporation Limited; Zero2IPO Consulting Group Co., Ltd., an investment management company; Zero2IPO Capital Limited, a SFC licensed corporation; and individuals Mr. NI Zhengdong, Mr. LI Zhu and Mr. LAU Wai Kit.
TechStar Acquisition Corporation intends to focus its efforts on identifying high-growth de-SPAC targets in the “new economy” sector in China, including but not limited to innovative technology, advanced manufacturing, healthcare, life sciences, culture and entertainment, consumer and e-commerce, green energy and climate actions industries that align with the national economic trends and industrial policies.
The Sidley team was led by partners Claudia Yu and Meng Ding. Other team members included senior associate Kevin Chan; associates Maggie Bai and Vicky Tse; senior legal assistants Alisa Zhang, Iris Lao and Sia Yang; and legal assistants Krisandra Tung and Andy Tam.
Sidley has one of the largest Hong Kong IPO teams in the region, with more than 100 lawyers and legal professionals. We have been ranked as a leading international law firm in China capital markets by Chambers Asia Pacific and Chambers Greater China Region for years. As a pioneer in Hong Kong listings, Sidley has a strong proven track record in the first wave of precedent-setting deals in the past three decades, from Chapter 18A biotech listings, Chapter 19C secondary listings, dual primary listings to Chapter 18B SPAC listings.
