Clifford Chance advises Foshan Haitian Flavouring and Food Company on its US$1.29 billion IPO and listing in Hong Kong

Global law firm Clifford Chance has advised Foshan Haitian Flavouring and Food Company (Haitian) on its initial public offering and listing on the Main Board of the Hong Kong Stock Exchange. The listing raised approximately US$1.29 billion. Haitian, which is also listed on the Shanghai Stock Exchange, is the largest producer of condiments in China.

Chair of China Practice and partner Tim Wang said, “This transaction reflects our strong leadership in Hong Kong listings, particularly for companies tapping into China’s dynamic consumer economy. Haitian’s IPO – one of the largest in Hong Kong this year – demonstrates the city’s enduring appeal as a global fundraising hub and our ability to guide prominent mainland enterprises through complex cross-border offerings. Our capital markets expertise and long-standing commitment to supporting the growth of home-grown Chinese businesses remain central to our client partnerships.”

Partners Tim Wang, Jean Thio and Tianning Xiang led the deal, with support from a cross-border teams in Beijing, Hong Kong, Shanghai and Singapore, consisting of counsel Claire Cao, senior associates James Zhang, April Zhang and Ran Bi, associates Yuer Shao and Hester Choi, trainee solicitor Jin Qin, legal specialist Janssen Yang and legal analyst Anthony Shen.

Most recognised by its household ‘Haday’ brand of soy sauce and condiments, Haitian plans to strengthen its market leadership and expand into new categories, and further upgrade and optimise its technological capabilities, production capacity and supply chain.

Clifford Chance has advised on the successful fundraising of several well-known food and beverage brands in China, including the IPOs of China Resources Beverages, ChaPanda (tea beverages), Shiyue Daotian Group Co Ltd (kitchen staple food company) and Weilong Delicious (spicy snacks company).