2022.12.22
On December 22, 2022, Shanghai Chicmax Cosmetic Co., Ltd. (CHICMAX with stock code 2145) completed its IPO on the main board of the Stock Exchange of Hong Kong (SEHK) (IPO or this Project). CHICMAX issued 36,958,000 H-shares (excluding the overallotment portion) and raised a total amount of approximately HKD 835.1 million.
CHICMAX is a multi-brand cosmetic company focusing on the development, manufacturing and sale of skin care and maternal and childcare products. It owns several well-known brands, including KanS, One Leaf and Babyelephant. CHICMAX is the only Chinese cosmetics company with two skin care brands with annual retail sales in 2021 exceeding RMB 1.5 billion. Its brand Babyelephant had retail sales in 2021 exceeding RMB 1.8 billion, ranking first among Chinese maternal and baby care products in the Chinese market. For seven consecutive years, from 2015 to 2021, CHICMAX has ranked in the top five Chinese cosmetic companies by retail sales.
JunHe acted as the PRC legal counsel for the joint sponsors and underwriters in this Project. JunHe’s team overcame many adverse effects of the Covid-19 pandemic and assisted the joint sponsors and underwriters in conducting comprehensive Chinese legal due diligence, reviewing and revising the prospectus and the application and offering documents, issued Chinese legal opinions, and responded to the SEHK’s questions regarding PRC law. With JunHe’s help, CHICMAX successfully obtained the SEHK’s approval and consent for the IPO application. JunHe provided comprehensive, high-quality and efficient legal services for this Project and its efficiency and dedication won unanimous recognition and trust from the Company, the joint sponsors, the underwriters and the other intermediaries in this Project.
This Project was led by partner JIANG, Wenjun (Kelvin) and ZHANG, Zhijin (Jean) and undertaken by partner JIANG, Wenjun (Kelvin). JunHe partner
HUANG, Xiaoli (Ally) was responsible for the internal review and partner ZHANG, Chi (Austin) provided valuable support.
