Herbert Smith Freehills Kramer advises underwriters on Softcare’s Hong Kong IPO

Leading global law firm Herbert Smith Freehills Kramer has advised China International Capital Corporation Hong Kong Securities Limited, CITIC Securities (Hong Kong) Limited, GF Capital (Hong Kong) Limited and other underwriters on Softcare Limited (02698.HK)’s listing on the Main Board of the Hong Kong Stock Exchange.

“The Hong Kong IPO market remains strong,” said Hong Kong partner Matt Emsley. “With a solid pipeline ahead, we expect listing activity to stay robust through year end and beyond.”

Softcare is a multinational hygiene product company specialising in the development, manufacturing and sales of baby and feminine care products and the company has become a market leader in the hygiene product industry across African countries and a key player in the emerging markets. In terms of sales volume in 2024, the company ranked first in both the baby diapers market and the sanitary pads market in Africa, with a market share of 20.3% and 15.6%, respectively; and in terms of revenue in 2024, the company ranked second in both the baby diapers market and the sanitary pads market in Africa, with a market share of 17.2% and 11.9%, respectively. Softcare has established an extensive sales network covering over 30 countries across Africa, Latin America and Central Asia.

“We congratulate Softcare on its successful Hong Kong listing,” said Beijing partner Stanley Xie. “We’re pleased to support another transaction from the consumer sector, which continues to appeal to investors as one of several active market areas.”

Herbert Smith Freehills Kramer is a market leader in advising issuers and underwriters on Hong Kong IPOs. From 2022 to 2024, the firm advised on 22 successful listings on the Hong Kong Stock Exchange, ranking third among 70 international and local law firms in Hong Kong, according to RyanBen Capital.

Partners Matt Emsley, Stanley Xie and Jin Kong* led a cross-office team advising the underwriters, supported by Cyrus Wong, Haiyun Chen, Samuel Au, Camille Chai, Leah Zhi and Francis Wang. Sean Ji, Brian Ge, Hao Lin, Natalie Wong, Cece Wong and Maxine Law also provided support.

Legal manager Marine Jin led Herbert Smith Freehills Kewei Joint Operation’s Digital Legal Delivery business to provide high-efficiency solutions for verification and other document-intensive processes during the listing, assisted by Jean Zhou, Chloe Hu and Carol Wan.

*Due to regulatory requirements in Hong Kong, Jin Kong’s official title is Senior Registered Foreign Lawyer.