Sunshine Insurance's HK$6.7bn HKEX IPO advised by Linklaters

Sunshine Insurance's HK$6.7bn HKEX IPO advised by Linklaters

Linklaters advised the combined sponsors and underwriters on the global offering and listing of H shares of Sunshine Insurance Group Company Limited (Sunshine Insurance) on the Main Board of the Hong Kong Stock Exchange. The offering raised HK$6.7 billion in total, which makes it the fourth-largest IPO in Hong Kong SAR in 2022.

Sunshine Insurance is a privately held insurance company based in China. It conducts its life and health insurance business primarily through Sunshine Life and Property, its casualty insurance business primarily through Sunshine P&C, and its insurance funds are managed by Sunshine AMC.

According to data released by the China Banking and Insurance Regulatory Commission and the Insurance Association of China, Sunshine Life ranked 12th among 91 PRC life insurance companies and Sunshine P&C ranked 7th among 87 PRC property and casualty insurance companies in terms of original premium income in 2020.

The Linklaters team was headed by Christopher Yip (corporate partner), Lipton Li (capital markets partner) and supported by Donnelly Chan (counsel).

Partner Lipton Li said, "Linklaters has a wealth of experience advising on some of the region's most important transactions in the insurance sector. Our involvement in this successful listing reflects the team's market-leading sector expertise and consolidates the firm's long-standing reputation in the equity space."

Counsel Donnelly Chan stated, "We are honoured to have advised on five successful IPOs in Hong Kong this year, including the city's largest IPO in 2022, highlighting the firm's prominence in the Hong Kong IPO market. We are committed to supporting more issuers to tap into the international capital markets."