11月26日，中国电商巨头阿里巴巴集团完成了在港交所的二次上市，根据路透社报道，此次上市至少筹集了113亿美元资金，如果行使超额配股权，最终筹集资金将高达129亿美元。盛信律师事务所担任了发行人的香港及美国法律顾问，方达律师事务所担任了发行人中国法律顾问，迈普达律师事务所则担任其开曼群岛法律顾问；富而德律师事务所和金杜律师事务所为联席保荐人及包销商提供了法律意见。

路透社说，这是香港自2010年以来规模最大的上市交易，也是全球第二大跨境上市案例。阿里巴巴曾于2014年在纽交所上市，筹集250亿美元，当次上市至今仍保持了全球最大上市交易额记录。

路透社分析说，阿里巴巴此次在香港上市表明了对于香港继续作为金融中心的信心。与此同时，通过上交所、深交所和港交所之间的互联互通机制，到2020年6月，中国大陆投资者将能够参与阿里巴巴的股票交易，这将进一步抬升其股价。

盛信团队此次牵头律师为香港合伙人黄嘉信和Daniel Fertig；方达团队此次牵头律师为北京办公室合伙人丁继栋，以及上海办公室合伙人楼伟亮和唐奇儿；迈普达团队牵头律师为企业事务合伙人卢仕格及简立基。

此次上市的联席保荐人为中金公司和瑞士信贷。

Fangda, STB, KWM, Freshfields act on Alibaba’s $11.3 mammoth secondary listing

Fangda Partners and Simpson Thacher & Bartlett have advised Chinese e-commerce giant Alibaba on its $11.3 billion secondary listing in Hong Kong, with Freshfields Bruckhaus Deringer and King & Wood Mallesons advising the joint sponsors and underwriters.

According to Reuters, the listing value could go as high as $12.9 billion if an over-allotment option is exercised, and this would make it the largest deal in Hong Kong since 2010, and the world’s biggest ever cross-border secondary listing. Alibaba had a $25 billion New York listing back in 2014, which still holds the record for the world’s biggest initial public offering.

Reuters added that the IPO could be seen as a vote of confidence in Hong Kong’s financial future. Also, as the shares will be eligible for trading next June in the Stock Connect that links Shanghai and Shenzhen with Hong Kong, analysts and investors expect demand from mainland investors to lift its valuation.

The STB team was led by Hong Kong partners Chris Wong and Daniel Fertig, while the Fangda team was led by Beijing partner Jeffrey Ding and Shanghai partners Leo Lou and Doris Tang. 

Maples and Calder provided offshore law advice. Its team was led by corporate partners Greg Knowles and Derrick Kan. 

The joint sponsors are CICC and Credit Suisse.

To contact the editorial team, please email ALBEditor@thomsonreuters.com.