Ogier’s Hong Kong team has acted as counsel in connection with Foxconn Industrial Internet’s RMB27 billion (CI$3.4 billion) initial public offering on the Shanghai Stock Exchange.
Partner and Head of Corporate for Asia Nathan Powell and Senior Associate Carmen Leung provided Cayman Islands and BVI legal advice for the IPO, which is China’s largest domestic listing since 2015.
Mr. Powell said it was the fourth largest Chinese IPO in the past ten years.
“Foxconn obtained regulatory approval in a record-breaking five weeks compared with the usual one to two-year waiting period for most IPO applicants,” he said.
Foxconn Industrial Internet, which makes electronic devices, cloud service equipment and industrial robots, is a subsidiary of the world’s largest contract manufacturer, Foxconn.