On February 12th, Guming Holdings Limited completed its initial public offering and was listed on the main board of the Stock Exchange of Hong Kong (Stock Name: "Gu Ming", Stock Code: 01364.HK), becoming the "third listed company of new tea beverage" after Nayuki and ChaPanda.
Guming Holdings Limited operates the fresh beverage business primarily through a franchise model, with nearly 10,000 stores in over 200 cities. It is an industry-leading and rapidly growing Chinese fresh beverage enterprise. In terms of gross merchandise value (GMV) in 2023 and the number of stores as of 31 December, 2023, Gu Ming is the largest mass-market fresh tea beverage brand in China and the second-largest fresh tea beverage brand across all price ranges in China.
Shihui Partners served as the issuer's legal advisor in China for this project.
Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates served as the issuer's legal advisor in Hong Kong and the United States.
Ogier provided legal services to the issuer with respect to Cayman Islands law.
Jingtian & Gongcheng served as the legal advisor in China for the sponsor and underwriter.
Cleary Gottlieb Steen & Hamilton (Hong Kong) served as the legal advisor in Hong Kong and the United States for the joint sponsor.