Skadden, Arps, Slate, Meagher & Flom guided the Midea Group, alongside Jia Yuan Law Offices, on the home appliance company’s nearly $4 billion initial public offering in Hong Kong.
The transaction raised proceeds of approximately $4 billion, funded partially by cornerstone investors and marking Hong Kong’s largest IPO since the first quarter of 2021.
The IPO comes amid an pullback for many Big Law firms in China, several of which are leaving the region in response to deteriorating relations with the US, an economic downturn in the area and tighter security regulations. Firms including Morrison Foerster, Orrick Herrington & Sutcliffe, ...
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