Fangda advised the sole sponsor and underwriters on the Hong Kong Stock Exchange H-share listing of Chongqing Hongjiu Fruit Co. Limited (Stock code: 06689.HK) on September 5, 2022. The listing of approximatly14 million H-shares raised the net amount of around HK$496.8 million after deducting issuance fees and other expenses (assuming no over-allotment option is exercised) , making Hongjiu Fruit the first Chinese mainland fruit company to be listed on the Main Board of the Hong Kong Stock Exchange. In advance of the listing, Hongjiu Fruit converted its 296,516,495 domestic unlisted shares into H-shares.
 

• Hongjiu Fruit is a fast-growing multibrand fruit company in China sourcing its fruits mainly from China, Thailand and Vietnam with an end-to-end supply chain.
• Hongjiu Fruit focuses on developing fruit products in categories that enjoyed fast-growing market share and high consumption values in China. By sales revenue in 2021 according to CIC, it is China’s largest Southeast Asian fruit supplier, the largest durian distributor, as well as one of the top five distributors of dragon fruit, mangosteen and longan. Hongjiu Fruit is continuing its growth and expansion of its fruit business, as well as consolidating its market position and share in China’s fresh fruit sector.

Fangda acted as the PRC legal counsel to the sole sponsor and underwriters to Hongjiu Fruit and participated in the whole process of its H-share listing and the Full-circulation of its domestic unlisted shares into H-Shares. The Fangda team was led by capital markets partners Dong Wu and Yvette Liu, supported by team members Lu He, Chunyuan Zheng, Sherry Shao, Wendy Guo, Xiaoyi Wu and Kehan Shi.