Paul Hastings Advised On Haitian’s US$1.3 Billion Dual-Listing IPO On The Hong Kong Stock Exchange

Paul Hastings Advised on Haitian’s US$1.3 Billion Dual-Listing IPO on the Hong Kong Stock Exchange

Paul Hastings LLP advised China International Capital Corporation Hong Kong Securities Limited, Goldman Sachs (Asia) L.L.C., and Morgan Stanley Asia Limited — in their roles as joint sponsors, overall coordinators, joint global coordinators, joint bookrunners, and joint lead managers — along with other underwriters, on the US$1.3 billion global offering and listing of Foshan Haitian Flavouring and Food Company Ltd. (Haitian) on the Main Board of the Hong Kong Stock Exchange (HKEX).

Haitian, China’s leading condiments manufacturer, is already listed on the Shanghai Stock Exchange. This landmark transaction marks the first A+H dual-listing in the PRC condiments industry and stands as one of the largest A+H IPOs on the HKEX in 2025.

The Paul Hastings team was led by Raymond Li (Founding Partner and Chair of Greater China) and corporate partners Chaobo Fan, Steven Hsu, and Crystal Liu. They were supported by associates Jessica Lam, Wei You, Helen Cheung, Sara She, Bonnie Liu, Linfei Li, and Meiyi Li; legal managers Jin Cha, Lynn Liao, Zihan Shi, and Heverly Ma; and paralegal Sunny Han. David Hearth (Corporate Partner) provided additional advice on U.S. Investment Company Act-related matters.

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