Cheerwin Completes HK$3.07 Billion Hong Kong IPO and Rule 144A/Regulation S Offering
03.10.21
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Simpson Thacher represented Cheerwin Group Limited (“Cheerwin”) in connection with its initial public offering and Rule 144A and Regulation S offering. Cheerwin offered an aggregate of 333,333,500 shares prior to the exercise of the underwriters’ overallotment option. The base offering size was HK$3.07 billion (approximately US$393.16 million). The shares of Cheerwin are listed on the Main Board of the Hong Kong Stock Exchange. Morgan Stanley and CICC acted as joint sponsors, joint global coordinators, joint bookrunners and joint lead managers.
Cheerwin is a leading one-stop multi-category household care and personal care platform in China, developing and manufacturing a variety of household care, personal care and pet care products. Cheerwin has a vertically integrated business model that provides control over the most critical elements of the value chain, including research and development, manufacturing, marketing, and sales and distribution.
The Simpson Thacher team for the transaction included Christopher Wong, Marjory Ding, Emily Yiu and Cherrie Zhang (Capital Markets); and Jonathan Cantor and Scott Grundei (Tax).