Latham & Watkins has recruited two capital markets counsel in Hong Kong to expand its practice in Greater China, as more deals are expected from the recent listing rule changes by the Hong Kong Stock Exchange.
Mandy Wong and Daying Zhang join from Sidley Austin and Kirkland & Ellis, respectively. Their arrival follows securities partner Benjamin Su rejoining the firm—also from Kirkland. However, Latham also recently lost corporate associate Chris Tang to Chinese firm JunHe.
Wong was a counsel at Sidley, which she joined in 2015. She was part of the Sidley team that advised the underwriters on Chinese real estate developer Zhenro Properties Group Ltd.’s $510 million initial public offering in Hong Kong earlier this year. This is Wong’s second stint at Latham, having spent one year there as a senior associate in 2010. Wong also had stints at Milbank, Tweed, Hadley & McCloy, where she was of counsel, and in-house experience at Swiss bank UBS as executive director in the legal and compliance department.
At Latham, Wong’s practice covers a broad spectrum of general commercial and corporate finance transactions, including IPOs, secondary offerings, debt offerings, M&A, public takeovers and listing rules compliance matters. She is particularly experienced in advising Chinese and international companies on their listings on Hong Kong’s stock exchange.
Zhang was an associate in the Hong Kong and Shanghai offices at Kirkland. At Latham, her practice focuses on corporate finance and securities transactions, including U.S. IPOs, follow-on offerings and registered debt offerings, and listings on the Hong Kong Stock Exchange. Zhang also advised on corporate governance and regulatory matters, including internal investigations and U.S. Foreign Corrupt Practices Act (FCPA) compliance programs.
“As more and more Chinese companies seek to list in Hong Kong and the U.S., Mandy’s and Daying’s cross-border experience, skills and business acumen will be an asset to our practice and our clients,” Cathy Yeung, the global co-chair of Latham’s capital markets practice and chair of the Greater China practice, said in a statement.
The Hong Kong Stock Exchange in April implemented a set of new listing rules to attract more initial public offerings from tech and biotech companies. The new regime accepts applicants with dual-class shares, a structure preferred by many startups and one that allows biotech companies with no revenue to list.