Linklaters advised the joint sponsors and underwriters on the global offering and listing of H shares of Sunshine Insurance Group Company Limited (Sunshine Insurance) on the Main Board of the Hong Kong Stock Exchange (Stock Code: 6963). The offering raised HK$6.7bn in aggregate, making it the fourth-largest initial public offering (IPO) in Hong Kong SAR this year.

Sunshine Insurance is a privately owned insurance group in China. It carries out its life and health insurance business mainly through Sunshine Life and property, and its casualty insurance business mainly through Sunshine P&C and manages its insurance funds through Sunshine AMC. Sunshine Life was ranked 12th among 91 PRC life insurance companies and Sunshine P&C ranked 7th among 87 PRC property and casualty insurance companies based on original premiums income in 2020, according to the data published by the China Banking and Insurance Regulatory Commission and the Insurance Association of China.

The Linklaters team was led by corporate partner Christopher Yip and capital markets partner Lipton Li, with support from counsel Donnelly Chan.

Partner Lipton Li, commented:

“Linklaters has a wealth of experience advising on some of the region’s most important transactions in the insurance sector. Our involvement in this successful listing reflects the team’s market-leading sector expertise and consolidates the firm’s long-standing reputation in the equity space.”

Counsel Donnelly Chan, commented:

“We are honoured to have advised on five successful IPOs in Hong Kong this year, including the city’s largest IPO in 2022, highlighting the firm’s prominence in the Hong Kong IPO market. We are committed to supporting more issuers to tap into the international capital markets.”