ABL Advises UNQ Holdings Limited on Main Board Listing on the Hong Kong Stock Exchange
2021-07-1210574On July 12, 2021, ABL successfully advised UNQ Holdings Limited ("UNQ") in its listing on the Main Board of the Hong Kong Stock Exchange. The shares were issued at HKD 11.86 per share, marking a significant milestone for the company as it expanded its presence in the international capital market.
A Landmark Global Offering
The global offering comprised approximately 30.69 million shares, with the potential to raise HKD 400–500 million if the over-allotment option is fully exercised. The listing garnered strong market interest, attracting three cornerstone investors: Japanese FMCG giants Unicharm, Kobayashi Pharmaceutical, and Country Garden Property, all of whom maintain long-standing collaborations with UNQ. The Hong Kong public offering was oversubscribed by an impressive 25.45 times, reflecting high investor confidence in UNQ’s business model and growth potential.
UNQ: A Leader in E-Commerce for Japanese Brands
Founded in 2010, UNQ is a leading e-commerce service provider in China, specializing in Japanese fast-moving consumer goods (FMCG) brands. The company offers a full suite of services, including supply chain management, brand incubation, and marketing, and collaborates with major e-commerce platforms such as Taobao, JD.com, and Xiaohongshu. Recognized repeatedly as a top-quality partner by these platforms, UNQ has established itself as the dominant operator in China’s Japanese FMCG market, holding the largest market share by gross merchandise value (GMV).
With a product portfolio that includes beauty, maternity, and personal care items, UNQ has not only led the Japanese FMCG segment in China but also strengthened its position as a key operator for Japanese brands in the region.
ABL’s Role in the Listing
ABL acted as Chinese counsel for UNQ throughout the listing process, providing a full range of legal services. Senior partners Fang YE, Sujie HUANG, and Jianjun ZHENG led the team, supported by partner Jianzhang PAN, senior lawyer Peng GAO, attorneys Minmin GUO, Bicheng CHEN, and Jiayi HAN, and legal assistants Guanwei TAO and Xiaoyi LI. The team provided comprehensive legal advice, ensuring regulatory compliance, drafting and reviewing documentation, and facilitating a smooth execution of the listing.
Recognition of Excellence
This successful listing reflects ABL’s expertise in handling complex cross-border transactions and its commitment to delivering rigorous and efficient legal services. The client’s trust and recognition of ABL’s professional excellence further reinforce the firm’s reputation as a leader in providing innovative legal solutions for high-stakes corporate transactions.
ABL is proud to have supported UNQ in achieving this significant milestone and looks forward to continuing its partnership with leading enterprises as they navigate the global capital markets.
