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Freshfields advises on listing of ANE (Cayman) Inc. on HKSE

Freshfields Bruckhaus Deringer (‘Freshfields’) has provided Hong Kong and US law advice to J.P. Morgan Securities (Far East) Ltd. and China International Capital Corporation Hong Kong Securities Ltd., the joint sponsors and the underwriters in the global offering and listing of shares of ANE (Cayman) Inc. on the Hong Kong Stock Exchange (‘HKSE’). The transaction raised proceeds of approximately HK$1bn (US$127m) before any exercise of the Over-allotment Option. Trading of the shares commenced today (11 November 2021).

ANE (Cayman) is a leading express freight network operator in China’s less-than-truckload (‘LTL’) market. According to industry research, its express freight network was the largest in China in terms of total freight volume in each of 2017, 2018, 2019 and 2020. The company held a market share of 17.3 per cent in 2020 among all express freight networks in China and has seen rapid growth in revenue and profits in recent years.

The Freshfields team advising on the transaction was led by China Chairman Teresa Ko and partner Calvin Lai. They were supported by counsel Steven Hsu and Chris Fu, senior associate Sabrina Ma and associates Jiannan Kang and Silver Yu. US tax advice was provided by partner Claude Stansbury.


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