On September 22, 2020，Huazhu Group Limited (“Huazhu Group”) launched its listing on the Main Board of The Stock Exchange of Hong Kong (HKEX) as part of its global offering of 20,422,150 new shares (before the exercise of over-allotment option). The offer price was set at HKD 297 per share, intending to raise HKD 6.065 billion from investors (before the exercise of over-allotment option).
Huazhu Group is a leading and fast-growing multi-brand hotel group in China within international operations. At present, it operates over 20 hotel brands, including Joya Hotel, Blossom Hill Hotel, Crystal Orange Hotel, Mercure Hotel, Manxin Hotel, Ji Hotel and HanTing Hotel. According to Frost & Sullivan, Huazhou Group was the second largest hotel group in China and the world’s ninth largest in terms of number of hotel rooms operated by the end of 2019. Huazhong Group's ADS have been listed on NASDAQ since March 26, 2010. The current listing of Huazhu Group on the main board of the Stock Exchange of Hong Kong is the secondary Hong Kong listing under Chapter 19C of the Hong Kong Listing Rules.
It took only about 4 months from the kick-off to a successful IPO. JunHe, acting as the PRC legal counsel of the issuer, has overcame the adverse impact of the COVID-19 pandemic and other factors with quality, rigorous and efficient legal services under tight project timetable, assisted the issuer in carrying out domestic legal due diligence, reviewing and revising transaction documents and the application and issuance documents relating to this listing, issuing PRC legal opinions, and responding to the feedback from the HKEX on the PRC legal issues, and ultimately helped Huazhu Group successfully complete the secondary listing on the HKEX. JunHe team has won high recognition and trust from the client and other intermediaries for its strong work ethic and professional expertise.