The corporate and global financial markets team at Clifford Chance, led by Tim Wang, is well-known for its capabilities on a range of equity capital market matters, notably on IPOs on the main board of the Hong Kong Stock Exchange. The team counts issuers, underwriters and controlling shareholders among its clients. Virginia Lee offers advice on M&A, pre-IPO investments and equity fundraising. Fang Liu handles a broad range of corporate and regulatory issues including IPOs, SEC-registered offerings and Rule 144A and Reg. S bond offerings. Christine Xu departed the firm in July 2024.

Davis Polk & Wardwell LLP is highly regarded for its expertise across an array of ECM transactions. The team is particularly notable for its handling of both Hong Kong and US IPO and follow-on offerings. Li He has extensive experience representing China-based companies, investment banks and private equity funds in a range of cross-border transactions. James Lin focuses on US and Hong Kong IPOs, while Steve Wang is an expert in biotech listings. The three jointly lead the team.

Kirkland & Ellis stands out for its strong expertise in both Hong Kong and US capital markets transactions. The team is led by Mengyu Lu and caters to both issuers and investment banks on IPOs, follow-on offerings, reverse takeovers and de-SPAC transactions. Lu’s diverse caseload encompasses IPOs and pre-IPO financings as well as SPACs. Brian Ho is well-regarded for his regulatory expertise, having previously served on the Securities and Futures Commission of Hong Kong. Joey Chau is also a name to note.

Benjamin Su and Terris Tang spearhead the capital markets practice at Latham & Watkins LLP. The team offers leading advice on matters across the life sciences and TMT sectors and is active in assisting Southeast Asian companies wishing to list on the Hong Kong Stock Exchange. Su has extensive experience handling IPOs, particularly within the technology sector. Tang counts PRC and international corporations, private equity firms and financial institutions among his clients. Allen Wang is a key contact for PRC-related transactions, while Daying Zhang is an expert in Rule 144A Regulation S equity offerings and Hong Kong IPOs.

Having joined the team in July 2024, Christine Xu heads up the capital markets practice at Linklaters. The team represents both issuers and investment banks and has experience across active industries including the technology and healthcare sectors. Xu specialises in Hong Kong IPOs, pre-IPO financing and post-IPO compliance issues. Lipton Li brings extensive knowledge of international capital markets, while Donnelly Chan’s diverse caseload spans equity offerings, M&A, joint ventures and compliance matters. Oliver Zhong focuses on Hong Kong and US IPOs and Roger Cheng is an expert on regulatory frameworks.

Simpson Thacher & Bartlett Hong Kong boasts expertise in both US and Hong Kong capital markets matters. The team continues to assist US-listed and China-based issuers in secondary or dual primary listings on the Hong Kong Stock Exchange. Christopher Wong is at the helm and has vast experience in Hong Kong IPOs for both issuers and underwriters. Yi Gao offers advice on a broad spectrum of issues, including IPOs, pre-IPO and post-IPO financings, equity-linked and debt issuances. He is also noted for his US expertise. Daniel Fertig focuses on US-registered offerings and Rule 14A/Regulation S offerings. Marjory Ding handles a range of public and private debt offerings and equity securities.

Skadden, Arps, Slate, Meagher & Flom LLP spans Hong Kong, English and US law capabilities. The team advises on a range of capital markets matters including US IPOs, de-SPAC listings, reverse takeovers and equity-linked securities offerings. Haiping Li splits her time between Hong Kong and Beijing and is a key contact for Chinese companies. She leads the team alongside Paloma Wang and Jonathan Stone. Wang has particular expertise in international capital markets as well as post-IPO matters. Shu Du is another name to note, she has experience across US and Hong Kong IPOs as well as de-SPAC US listings and equity-linked securities offerings.

A&O Shearman draws on a strong network of offices across Asia as well as its US-qualified lawyers in Hong Kong. The group has full-service capital markets capabilities as well as expertise in related regulatory and commercial issues. Lina Lee heads up the practice and has extensive experience working with both Chinese and international companies on IPOs, rights issues and secondary share offerings. Jonathan Hsui is well-regarded for his deep understanding of technical regulatory issues. Kyungwon Lee’s diverse practice encompasses Rule 114A/Regulation S offerings of equity securities, leveraged buyouts and management transactions.

Alongside US securities law capabilities, the corporate transactions team at Ashurst is well-equipped to handle every type of ECM transactions, from pre-listing financings and restructurings to post-listing compliance. Head of practice Frank Bi acts for corporates and investment banks on international capital markets and compliance matters. Li Jiang specialises in Rule 114A and Regulation S securities offerings, as well as international capital markets transactions.

Herbert Smith Freehills Kramer LLP advises investment banks, international corporations and Chinese state-owned entities on a wide variety of capital market-related matters. The team has particular experience in Hong Kong IPOs across the healthcare and biotech sector. Matt Emsley and Jason Sung jointly lead the team. Emsley excels in IPOs, secondary offerings and M&A matters, while Sung oversees complex transactions on behalf of investment banks, corporates as well as PRC state-owned enterprises. Jeremy Shen routinely handles IPOs and follow-on offerings. Maisie Ko brings experience in both IPOs and listed issuer compliance matters.

King & Wood Mallesons fields an extensive team of ECM-specialised lawyers with expertise in PRC, Hong Kong, English and US laws. The team, led by Candy Chan and Sheldon Tse, caters to Chinese issuers in US and Hong Kong listings, as well as re-listings, take-privates and spin-off listings. Chan routinely advises on Hong Kong IPOs, compliance issues, cross-border M&A and takeovers. Tse is highly experienced in PRC-related corporate finance, private equity transactions and regulatory work. John Baptist Chan and Anthony Wan are also recommended for IPOs and other ECM transactions. Corey Zhang brings expertise in London global depositary receipt offerings and Rule 144A/Regulation S debt offerings.

Psyche Tai heads up the corporate finance team at Norton Rose Fulbright. The team brings a wealth of experience advising Chinese enterprises, Hong Kong-based companies, international issuers and other financial institutions on the full range of matters from pre-IPO investment to securities regulation and enforcement issues. Tai assists Chinese companies on a range of ECM mandates, including IPOs and listings as well as regulatory issues. Doris Ng is highly experienced in a broad range of capital markets mandates and assists investment banks as well as corporate clients. Winnie Chan and Harold Tin are also key members of the team.

O'Melveny fields significant expertise in the life sciences and biotech sector, assisting Chinese clients wishing to list on the Hong Kong Stock Exchange. The team draws on offices in both mainland China and Hong Kong. Ke Zhu is a key contact for companies within the life sciences, TMT and real estate industries and is qualified in both New York and Hong Kong. Vincent Wang is also recommended.

The corporate team at Paul Hastings LLP fields expertise in IPOs and global offerings as well as rights issues, block trading and follow-on offerings. The team continues to assist Hong Kong and PRC-based securities regulatory commissions as well as clients from across the life sciences, healthcare, consumer, finance, real estate and technology industries. Raymond Li counts both prominent Chinese corporations and international inbound investors among his clients and specialises in high-stakes ECM transactions alongside fellow practice head Chaobo Fan. Peter Cheng has extensive experience handling numerous Hong Kong IPOs as well as related regulatory mandates. Steven Hsu and Crystal Liu are also key members of the team.

Constance Choy is at the helm at Sidley Austin LLP. The team remains at the forefront of the Hong Kong IPO market, handling both the first specialist technology company IPO, listed under Chapter 18C and the first Chapter 18B de-SPAC and Hong Kong listing. Meng Ding excels in transactions across the technology sector, while Sherlyn Lau has extensive experience in working with Hong Kong Stock Exchange and the Securities and Futures Commission in a variety of IPOs. Claudia Yu is a key contact for companies looking to list under the dual primary conversion rules.

Slaughter and May is well-versed in a broad range of ECM transactions including both primary and secondary offerings as well as regulatory issues and ‘first of its kind’ transactions. Benita Yu acts for corporate clients, PRC state-owned enterprises, international issuers and investment banks across a range of ECM transactions. She leads the team alongside John Moore. Moore is well-regarded for his expertise in complex securities transactions. Clara Choi acts for blue-chip companies in IPOs, secondary offerings and Global Depository Receipt listings. Jing Chen is also recommended, having previously served as as Vice President of the Listing Division of the Hong Kong Stock Exchange.

Sullivan & Cromwell draws on expertise across US, Hong Kong and English law, making the team well-equipped to handle the full spectrum of ECM transactions, from IPOs to follow-on and secondary offerings. Under the leadership of Kay Ian Ng and Ching-Yang Lin, the team has a strong presence across mainland China, Hong Kong and Taiwan and excels in mandates within the healthcare, technology and biotech sectors.

Baker McKenzie provides advice on the full range of capital markets matters, fielding a team of Hong Kong, PRC and US-qualified lawyers with expertise in transactions, regulatory compliance and disciplinary issues. Christina Lee, spearheads the practice. Lee focuses on regulatory matters as well as public and private M&A. Brian Wong is also recommended, alongside ECM transactions and compliance he handles corporate law and corporate governance issues. The team also draws on expertise from their mainland China practice.

Cleary Gottlieb Steen & Hamilton has a wealth of experience in both US and Hong Kong ECM transactions. The capital markets team offers advice on every type of transaction from Hong Kong IPOs to Rule 144A/ Regulation S bonds and follow-on offerings. Freeman Chan leads the team and acts for both issuers and underwriters in Hong Kong IPOs. Fellow practice head Shuang Zhao specialises in high-end ECM transactions in both the US and Hong Kong. Miao Zhang focuses her practice on Hong Kong-based transactions. Biyuan Zhang was promoted to partner in January 2025 and is the firm’s key contact for US transactions. They both also lead the team.

Deacons draws on a large and experienced capital markets team. The team is capable of handling large numbers of Hong Kong IPOs and also leverages expertise in block trades, private placements, rights issues and secondary offerings. Ronny Chow heads up the practice and caters to listing applicants, sponsors and underwriters seeking advice on IPOs and listings in Hong Kong. Rhoda Yung and Maynard Leung are experts in securities issues. Yung also specialises in other company law matters such as capital reductions, while Leung has in-depth knowledge on the Companies Ordinance, Listing Rules and the Takeovers Code.

Gordon Ng and Norman Hui head up the ECM practice at Dentons Hong Kong. The integrated Hong Kong and US team acts for both issuers and underwriters on IPOs, other ECM transactions and related regulatory matters. Ng has extensive experience in IPOs and issues relating to the Hong Kong Stock Exchange and the Securities and Futures Commission. Hui’s practice is centred around ECM and corporate transactions such as M&A.

Fangda Partners’ ECM practice spans both Hong Kong and PRC capabilities. The team is also well-versed in M&A, litigation and other corporate matters. Colin Law jointly leads the team with Arnold Pang. Law caters to multinationals and investment banks on a range of mandates, including international public offerings, takeovers and regulatory issues. Pang’s expertise extends to M&A, corporate governance and compliance matters alongside ECM transactions.

The capital markets team at Hogan Lovells is well-regarded for its expertise in US and Hong Kong IPOs as well as regulatory and compliance issues. Sammy Li and Nelson Tang spearhead the practice. Li routinely handles IPOs, global offerings, rights issues and other fundraising transactions. Alongside his ECM work, Tang is a key port of call for public takeovers and regulatory issues.

Splitting his time between Hong Kong and Beijing, Edwin Luk leads the ECM team at Morgan, Lewis & Bockius. The team specialises in all types of transactions on behalf of both issuers and underwriters, including IPOs, follow-on offerings, private placements under Rule 144A/Regulation S and private investments in public equity (PIPEs). As well as transactional matters, Luk offers advice on securities regulation and regulatory compliance. William Ho, Billy Wong and Keith Cheung have experience across a large volume of IPOs as well as general corporate issues. June Chan and Louise Liu also undertake IPOs and a variety of ECM mandates. Eli Gao is a key contact for securities matters.

The corporate finance team at Commerce & Finance Law Offices handles the full range of capital markets transactions, from IPOs to secondary offerings, on behalf issuers and underwriters. Led by founder Eric Chow, the group has a strong presence within the PRC healthcare and biotech sectors. Ning Liu specialises in IPOs. Brandon Chow is another name to note, with expertise across all types of ECM transactions. Frank Fu and Kung-Wei Liu joined the team from A&O Shearman in 2025.

Luke Gannon and George Wu lead the capital markets offering at DLA Piper. The team spans offices across Hong Kong and mainland China and encompasses expertise on both domestic and international ECM transactions as well as related compliance. Wu has a particular focus on IPOs, advising investment banks and corporates on Rule 144A/ Regulation S and SEC-registered offerings. Christina Loh handles a broad range of ECM matters and is well-versed in Chapter 18A biotech listings, H-share offerings as well as regulatory compliance.

Eversheds Sutherland is adept at handling a wide variety of ECM matters, from pre-IPO fund raising, IPOs and secondary offerings to post-listing transactions and compliance issues. Dickson Ng is at the helm, he is highly experience in Hong Kong IPOs and other ECM transactions as well as related regulatory and compliance matters. Stephen Mok handles Hong Kong Stock Exchange listings and corporate restructuring matters for Chinese enterprises. Roger Zhou is also recommended.

With a particularly strong presence in the Philippines ECM market, Milbank leverages expertise in a range of transactions, including IPOs as well as hybrid and perpetual bonds. James Grandolfo acts for both issuers and underwriters across Asia from Vietnam and Thailand to Turkey and India. As well as his US and Hong Kong law expertise, Paul Pery is Philippines-qualified and is a key contact for companies seeking to list there. Ari Singzon and York Wu are other names to note

Reed Smith Richards Butler LLP’s corporate team is led by Denise Jong. The team has a wealth of experience across both the Hong Kong and Chinese capital markets, advising on diverse transactions from IPOs to follow-on offerings and matters relating to Hong Kong securities laws. Jong offers advice on IPOs, M&A, private equity, restructurings and privatisations. Ivy Lai has particular expertise in PRC-related matters, while Anthony Woo advises on cross-border transactions across the transportation, pharmaceutical, education and oil and gas industries.

Charltons is well-versed in a range of ECM transactions, in particular IPOs and related regulatory issues. Founder and practice head Julia Charlton specialises in corporate finance, restructurings, securities, private equity investment and capital markets. Calvin Ho is another name to note, he lends his expertise to IPOs and secondary listings as well as private placements, pre-IPO consultations and listing application reviews.

Howse Williams leverages expertise in a broad range of ECM matters, including Hong Kong Stock Exchange listings, secondary offerings, dual listings, reverse takeovers and compliance. Chris Williams and Brian Ho jointly lead the practice. Williams specialises in a range of corporate matters, he has particular knowledge of the Indonesian and Singaporean markets. Ho brings expertise in IPOs, secondary fund raising, direct investment as well as corporate governance and compliance. Chia Ching Tan is well-regarded for her knowledge of the Listing Rules, Takeovers Code and other related laws in Hong Kong and Malaysia.

Johnson Stokes & Master encompasses expertise in ECM transactions across Asia. Billy Au is at the helm, he continues to advise both Chinese state-owned and private-owned enterprises on global offerings, inbound and outbound M&As and other related corporate issues. Jeckle Chiu is highly knowledgeable in the Hong Kong Listing Rules and the Takeovers Code. Chester Wong advises on a range of equity offerings, from IPOs to securities issues and secondary listings.

Kwok Yih & Chan maintains strong relationships with the Hong Kong regulators and is well-placed to handle a whole host of ECM transactions. Larry Kwok specialises in regulatory issues, including insider dealings, market misconduct and Listing Rules violations. Alongside his capital markets practice, Dieter Yih brings expertise in corporate finance, securities and M&A. Conrad Chan offers advice on listings, public offerings as well as transactions and compliance issues. All three are founding members and leaders of the practice.

Lawrence Venick leads the capital markets and corporate team at Loeb & Loeb LLP. The team spans expertise across both transactions and regulatory issues, representing companies wishing to list on the Main Board and the Growth Enterprise Market of the Hong Kong Stock Exchange. Venick handles both corporate and securities matters, from SEC disclosure obligations to corporate governance responsibilities. Roy Choi advises on IPOs, M&A transactions and compliance issues.

Hank Lo is at the helm at Stevenson, Wong & Co. The capital markets team is able to draw on expertise from PRC-based AllBright Law Offices and caters to public and private corporations, as well as investment banks and financial institutions. Lo advises issuers, sponsors and underwriters on IPOs and also specialises in corporate finance and M&A matters. Gordon Tsang  is another name to note, he has extensive experience across both US and Hong Kong ECM transactions.

Tian Yuan Law Firm’s capital markets practice is spearheaded by Nan Li. The team provides advice to issuers and sponsors on IPOs as well as to red-chip and H share companies seeking to list of the Main Board of the Hong Kong Stock Exchange. Li has extensive experience across a range of ECM transactions, in particular Hong Kong IPOs and public M&A matters.