Seres Raises HK$14.3 Billion in Hong Kong IPO

"Davis Polk advised Seres Group Co., Ltd. on the initial public offering and listing of H shares on the Hong Kong Stock Exchange in reliance on Regulation S, generating approximately HK$14.3 billion in gross proceeds prior to the over-allotment option. The listing is the largest Hong Kong/U.S. automotive IPO in the past four years. Seres is a technology company focused on new energy vehicles."

Davis Polk advised Seres Group Co., Ltd., whose A shares are listed on the Shanghai Stock Exchange, in connection with its initial public offering and the listing of H shares on the Hong Kong Stock Exchange. The offering raised approximately HK$14.3 billion in gross proceeds prior to the exercise of the over-allotment option and was conducted in reliance on Regulation S. The listing marks the largest Hong Kong/U.S. IPO in the automotive sector in the last four years. Seres is a technology company focused on new energy vehicles, including the research and development, manufacturing, sales and services of new energy vehicles as well as core NEV components. Davis Polk represented Seres Group Co., Ltd. with a team composed by: partners Li He, Jason Xu and Ran Li; registered foreign lawyer Xiaofei Ye; and associates Michelle Chow, Andrew Pu and Ching Suen. The work was handled by the Davis Polk corporate team, with members based in the Hong Kong and Beijing offices.

Seres Raises HK$14.3 Billion in Hong Kong IPO

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