Benjamin P. Su

Benjamin’s experience includes advising:

Equity Capital Markets

• The joint sponsors and underwriters on the HK$1.85 billion initial public offering of Caocao, a leading ride-hailing platform in China, on The Stock Exchange of Hong Kong
• The joint sponsors and underwriters on the HK$1.4 billion initial public offering of Drinda, a leading specialized manufacturer of photovoltaic cells, on The Stock Exchange of Hong Kong
• The underwriters on the initial public offering of Yuanbao, a leader in the insurtech industry, on the NASDAQ
• The underwriters on the US$440 million initial public offering on the NASDAQ and concurrent private placements for WeRide, a global leader and a first mover in the autonomous driving industry. This transaction was awarded Equity Capital Markets Deal of the Year by China Business Law Journal’s Deals of the Year Awards 2024
• The underwriters on the HK$333 million initial public offering of Baiwang, a Chinese enterprise digitalization solutions provider, on The Stock Exchange of Hong Kong
• The underwriters on the HK$985 million initial public offering of RoboSense Technology, a global leader in the LiDAR and perception solutions market, on The Stock Exchange of Hong Kong. This transaction was awarded Equity Capital Markets Deal of the Year by China Business Law Journal’s Deals of the Year Awards 2024
• J&T Express, a global logistics service provider, on its HK$3.5 billion initial public offering on The Main Board of the Stock Exchange of Hong Kong Limited. This multi-award winning transaction was awarded Equity Market Deal of the Year at the ALB Hong Kong Law Awards 2024, Equity Market Deal of the Year – Midsize at the ALB China Law Awards 2024, Best IPO: China-Offshore at the FinanceAsia Achievement Awards 2024, Equity Market Deal of the Year at the ALB SE Asia Law Awards 2024, Equity Deal of the Year at the IFLR Asia-Pacific Awards 2024, and Equity Capital Markets Deal of the Year by China Business Law Journal’s Deals of the Year Awards 2023
• The underwriters on the US$161 million initial public offering (IPO) of American depositary shares on the NASDAQ Global Market for Structure Therapeutics, a biopharmaceutical company with offices in the US and China
• The underwriters on China-based online learning service provider QuantaSing’s US$40.63 million IPO of American depositary shares on the NASDAQ Global Market
• GigaCloud Technology, a global end-to-end B2B ecommerce solutions provider for large-parcel merchandise, on its IPO of ordinary shares on the NASDAQ Global Market
• The underwriters on Taiwan-based Powerchip Semiconductor Manufacturing’s offering of US$410 million in global depositary receipts
• Macquarie as the sole placing agent in a placing of shares by Beijing UBOX Online Technology for approximately HK$155 million
• The underwriter on the offering of US$210 million global depositary shares by VIA Technologies, a Taiwanese manufacturer of integrated circuits
• The underwriter on the US$330 million GDR offering by ASMedia Technology, a Taiwan-based designer of controller chip products
• The underwriters on leading electronics transaction platform AiHuiShou International’s US$230 million IPO of American depositary shares on the New York Stock Exchange
• Tianqi Lithium, a leading global lithium producer, on its HK$13.5 billion (US$1.7 billion) H share IPO on the Main Board of The Stock Exchange of Hong Kong Limited
• The underwriters in one-stop travel platform Trip.com’s secondary listing and US$1.07 billion IPO on the Main Board of The Stock Exchange of Hong Kong Limited
• The underwriters on Chinese financial technology platform Futu Holdings Limited’s US$1.42 billion follow-on offering of American depositary shares on the NASDAQ Global Market
• The underwriters Chinese clinical-stage biopharmaceutical company Adagene’s US$140 million IPO of American depositary shares on the NASDAQ
• Kuaishou Technology, a leading content community and social platform globally, on its US$5.4 billion IPO and listing on the Main Board of the Hong Kong Stock Exchange
• The underwriters on Chinese e-vaping company RLX Technology’s US$1.6 billion IPO of American depositary shares on the New York Stock Exchange
• Tencent on its US$3 billion divestment and block trade of an aggregate of 14,492,751 Class A shares in Sea Limited, a leading internet company in Southeast Asia
• The underwriter on Taiwan-based Alchip Technologies' offering of US$195 million in global depository receipts
• The underwriters on leading Chinese smart electric-vehicle company XPeng’s US$1.7 billion IPO and US$2.5 billion follow-on offering of American depositary shares
• The underwriters on the US$620 million IPO of American depositary shares on the New York Stock Exchange for Yatsen Holding Limited, the parent company of Chinese cosmetics brand Perfect Diary
• The underwriters on Futu Holdings Limited’s offering of 9,500,000 American depositary shares
• The underwriters on the US$33 million IPO of American depository shares on the NASDAQ of Quhuo Limited, China’s largest workforce operational solution platform
• The underwriters on China Online Education Group’s offering of 1,122,682 American depositary shares listed on NYSE
• The underwriters on the US$130 million IPO of American depositary shares on the New York Stock Exchange of Phoenix Tree Holdings Limited (Danke, one of China’s largest co-living platforms)
• The underwriters on the US$40 million IPO of American depositary shares on the NASDAQ of EHang, an autonomous aerial vehicle technology platform company
• The underwriters on Chinese aesthetic medical services provider Aesthetic Medical International’s IPO on the NASDAQ Global Market
• ESR Cayman Ltd on its US$1.5 billion HK IPO and international offering, HK’s third largest IPO in 2019 and the largest real estate IPO in 10 years
• The underwriters on online brokerage platform Futu Holdings’ US$100 million IPO of American depositary shares on the NASDAQ
• The underwriters on the selling shareholder Baidu’s resale of 36,000,000 American depositary shares of Ctrip.com (including greenshoe portion), with an offering size of over US$1 billion

Debt Capital Markets

• The initial purchasers on the offering of US$960 million in aggregate principal amount of 0.50% convertible senior notes due 2030 by Qifu Technology 
• The underwriters on the offering of US$350 million in aggregate principal amount of 4.624% convertible senior notes due 2030 by iQIYI, a leading provider of online entertainment video services in China
• The underwriters on the offering of US$430 million in aggregate principal amount of 2.50% convertible senior notes due 2030 by VNET Group, a leading carrier-neutral and cloud-neutral internet data center services provider in China
• The underwriters on the offering of €1.5 billion convertible bonds due 2029 by a leading sports apparel company in China
• Canadian Solar in the US$200 million investment by PAG through the subscription of secured convertible notes
• The initial purchasers in Taiwan Semiconductor Manufacturing’s US$4.5 billion senior unsecured notes offering 
• The underwriters on Taiwan Semiconductor Manufacturing’s offering of US$400 million notes and US$600 million notes
• The initial purchasers in Taiwan Semiconductor Manufacturing’s US$3.485 billion three-tranche notes offering, comprising US$1.1 billion 1.25% notes due 2026, US$900 million 1.75% notes due 2028, and US$1.5 billion 2.250% notes due 2031
• Goldman Sachs International, J.P. Morgan, Morgan Stanley, Crédit Agricole CIB, and Citigroup, as underwriters on Taiwan Semiconductor Manufacturing’s offering of US$1 billion 0.750% notes due 2025; US$750 million 1.000% notes due 2027; and US$1.25 billion 1.375% notes due 2030 in the largest bond offering by a Taiwanese corporate to date
• The underwriters on the issuance of US$175 million 1.75% convertible senior notes due 2024 by Best Inc., an integrated smart supply chain solutions and logistics services provider in China
• The underwriters on the issuance of US$275 million 1.6% convertible senior notes due 2024 by Baozun, a leading brand e-commerce service provider in China
• The underwriters on the issuance of US$345 million 1% convertible senior notes due 2026 by Qudian Inc., a provider of online small consumer credit in China, including a capped call transaction

M&A

• Tencent on:
  • The US$1.4 billion de-SPAC merger between Silver Crest Acquisition Corporation, a special purpose acquisition company backed by Ascendent Capital Partners, and TH International Limited, the exclusive master franchise of Tim Hortons coffee shops in China
  • The proposal for its controlled subsidiary Huya to enter into a stock-for-stock merger with DouYu (of which Tencent is the largest shareholder), both US-listed and the two largest game live-streaming platforms in China
  • Its PIPE investment into TH International Limited
• Silicon Motion Technology, a Taiwan-based developer of NAND flash controllers, on the proposed US$3.8 billion take-private acquisition by MaxLinear, a California-based integrated circuits provider
• The buyers consortium on the take-private of GSMG, a digital media platform and content-driven e-commerce company in China
• Binance, one of the world’s largest cryptocurrency and blockchain infrastructure providers, on its proposed US$200 million strategic investment in Forbes, the iconic business information brand in the US 
• The buyer consortium led by Tencent and Hammer Capital on the going-private of Bitauto Holdings Limited, an US-listed internet content and marketing service provider focusing on the automobile industry, and Tencent as a joint offeror on the consequential mandatory general offer for Yixin Group Limited, Bitauto’s Hong Kong-listed subsidiary, as triggered by the Bitauto privatization
• Beijing Kuaishou Technology Co., Ltd. on its Series F financing from a group of prestigious international and Chinese investors led by Tencent