Leading international law firm Herbert Smith Freehills has advised Huatai Financial Holdings (Hong Kong) Limited as the sole sponsor of AuGroup (SHENZHEN) Cross-Border Business Co., Ltd. (02519.HK)’s listing on the Main Board of the Hong Kong Stock Exchange.
AuGroup is an online retailer specialising in quality furniture and home furnishings. The company ranked first in the B2C overseas e-commerce market for furniture and home furnishings by China-based sellers in terms of GMV in 2023, and the fifth globally.
“We congratulate AuGroup on its listing on the Hong Kong Stock Exchange,” said Hong Kong partner Matt Emsley. “We are delighted to have worked with the company and the sole sponsor on this IPO and wish them continued success.”
Herbert Smith Freehills is market leader in advising sponsors and underwriters on Hong Kong IPOs. In 2022 and 2023, the firm advised on 17 successful listings on the Hong Kong Stock Exchange, ranking second among 70 international and local law firms in Hong Kong, according to RyanBen Capital.
“This is the second successful Hong Kong IPO on which we have advised in the past week,” said Stanley Xie, head of Beijing. “With a two-decade track record in capital markets, we are pleased to have assisted another Chinese company in its international fundraising.”
Partners Matt Emsley, Stanley Xie and Jin Kong* jointly led a cross-office team advising the sole sponsor, assisted by senior associate Echo Shen, counsel Sean Ji, as well as associates Kristina Li, Sean Gao and Reagan Li. Associate Bryan Cheung, trainee solicitor Angel Lau, as well as legal assistants Emily Wan and Leah Zhi also provided support.
*According to regulatory requirements, Jin Kong’s official title is Senior Registered Foreign Lawyer in Hong Kong.
