Freshfields and Linklaters advise on SPAC

Freshfields and Linklaters advise on SPAC

Partners Gilbert Li and Lipton Li led the Magic Circle law firm's team

Freshfields Bruckhaus Deringer, an international law firm, headquartered in London, is advising Aquila Acquisition Corporation (AAC), a special purpose acquisition company (SPAC) on its planned IPO in Hong Kong.

The Magic Circle firm Linklaters advised the joint sponsors.

AAC was jointly established by CMB International Capital Corporation and AAC Management Holding.

Aquila's was Hong Kong's first application under the new SPAC listing rules, which came into effect on 1 January. The Hong Kong Stock Exchange introduced SPAC's new rules in December last.

Established in 2021, Aquila is registered in the Cayman Islands. According to the company's brochure, its key interest lies in the acquisition of one or multiple companies. Its target audience is the Asians, especially the Chinese, and also companies in the new economy such as green energy, life sciences, and advanced technology and manufacturing.

The Linklaters team was led by partners Gilbert Li and Lipton Li, with the Maples Group acting as offshore counsel to the issuer.