Sidley Austin advised YH Entertainment Group on the Hong Kong IPO
Sidley Austin, an American multinational law firm, has provided advice on the IPO of YH Entertainment Group on the Main Board of the Hong Kong Stock Exchange (HKEX).
The firm acted as Hong Kong legal counsel for the joint sponsors and overall coordinators China Securities (International) Corporate Finance Company Limited and China Merchants Securities (HK) Co., Limited, as well as the other underwriters, and the offering raised approximately HK$391.4 million (US$50.1 million).
YH Entertainment is a Chinese artist management company established in 2009. According to American business consulting firm Frost & Sullivan, it has the highest revenue-based market share among its peers. The company has built a culture and entertainment platform that includes artist management, music IP production and operation, and a pan-entertainment business and manages some widely popular artists in China.
In this IPO, YH Entertainment received cornerstone investments from Sun Mass Energy Development Limited, part of China Ruyi Holdings Limited, Maoyan Entertainment (HK) Limited, TradArt Asset Management Co. Limited, and Ding Shijia, the executive director and the deputy chairman of ANTA Sports Products Limited.
The Sidley team was headed by partners Oliver Zhong and Sherlyn Lau, a member of Sidley's Executive Committee and deputy head of the China Corporate and Finance group.
Other team members in the Sidley team included senior China advisor Linda Ruan, senior managing associate Jacob Zhao, registered foreign lawyer Dennis Chan, associates Grace Hua and Yaomin Pan, senior corporate manager Hannah Wong, and senior legal assistants Alice Liu, Krystal Liang, Kristine Zhang, Jiangyuan Song, and Iris Lao.
Sidley Austin has one of the largest Hong Kong IPO teams in the region, with more than 100 lawyers and legal professionals. The firm has been consistently ranked as one of the top-ranked legal advisors by Ryanben Capital in Hong Kong IPO by deal count for the past three consecutive years.
Sidley has also been recognised as a leading international law firm in the Capital Markets categories in China and Asia Pacific by Chambers for the last decade and is also recognised by Legal 500 Asia Pacific. The firm has a strong reputation in the region for its work on IPOs and other capital market transactions.