Qiuning (Frank) Sun

Frank’s recent experience includes advising:

Control Acquisitions

• Fedrigoni, a global manufacturer in specialty papers for luxury packaging and other creative applications, on its proposed acquisition of a majority stake in BoingTech, a subsidiary of Shanghai Inlay Link Inc (a NEEQ-listed Chinese holding company) and pioneer in the manufacturing of RFID inlays and tags
• Loscam on its acquisition of CHEP China, a China-based subsidiary of Brambles and provider of pallet and automotive pooling operations
• MBK Partners on its US$950 million acquisition of ocean parks across China from Hong Kong-listed hospitality group Haichang Ocean Park Holdings Ltd.
• Trustar Capital, formerly CITIC Capital Partners, on the:
  • Acquisition of Salion Food Condiment Company Limited, a condiment and seasoning manufacturer with its principal business in China
  • Acquisition of Amoy Food Limited and other assets related to the “AMOY” brand sauce and frozen food business from Ajinomoto Co., Inc.
  • Acquisition of a 55% stake in China Merchants Loscam International Holdings Co., Limited from HK-listed Sinotrans, together with FountainVest
  • Acquisition of Axilone, a France-based manufacturer of premium plastic and metal packaging for global cosmetics brands
  • Sale of a controlling stake in King Koil Shanghai Sleep System Co., Ltd., a manufacturer and retailer of premium mattresses in China, to Advent International
• Carlyle Asia Partners on the sale of its controlling stake in Crystal Orange Hotel Holdings, a boutique hotel operator in China
• Sinotrans Limited, the largest integrated logistics service provider in China, in its €385.7 million 100% acquisition of KLG Europe, a leading logistics solutions provider in Europe, in a two-step acquisition
• Vipshop Holdings on its acquisition of Shan Shan Commercial Group, a China-based owner and operator of a chain of outlets

Public M&As

• A buyer consortium led by Mr. Bing Zhang, the chief executive officer and chairman of Glory Star New Media Group Holdings Limited (GSMG), in the proposed going private of GSMG
• Tencent on its US$1.38 billion take-private of the HKSE-listed Leyou Technologies, an international game development and distribution company, by way of a scheme of arrangement
• Trustar Capital, formerly CITIC Capital Partners, as a major member of the buyer consortium on the US$4.76 billion privatization of US-listed China Biologic Products Holdings Inc., a developer of plasma-based therapies
• The buyer consortium on the US$1.1 billion privatization 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
• Haier Electronics Group on its proposed acquisition of a controlling stake in Ozner Water International Holding Limited, a China-based water and air purification company listed in Hong Kong

PIPEs

• Binance, one of the world’s largest cryptocurrency and blockchain infrastructure providers, on its proposed US$200 million strategic investment in Forbes, the iconic US business information brand
• CPPIB on its US$100 million investment in HUTCHMED (previously known as Hutchison China MediTech), a Hong Kong-based biopharmaceutical company listed on HKSE, Nasdaq, and AIM
• The Carlyle Group on its acquisition through its fund, CAP V Mauritius, of a 5% stake in Shenzhen Salubris Pharmaceuticals, an A-share listed biopharmaceutical company
• Tencent on the subscription of US$100 million convertible notes issued by US-listed NIO Inc., a pioneer in China’s premium electric vehicle market, through a private placement
• L Catterton Asia on its investment with JD.com in NASDAQ-listed Secoo Holding Limited, Asia’s largest online integrated upscale products and services platform, through a subscription of convertible note and warrant
• Vipshop Holdings Limited, a leading online discount retailer for brands in China, in its approximately US$863 million issuance of Class A ordinary shares to, and concurrent business cooperation arrangements with, Tencent and JD.com
• Orix Asia Capital and Asian Development Bank on the subscription of new shares and warrants issued by Hong Kong-listed United Photovoltaics Group Limited, which is sought to raise equity and debt financing to redeem a certain portion of its outstanding convertible bonds
• China Traditional Chinese Medicine Holdings Co. Limited on placing 604.3 million shares to Ping An Life Insurance Company of China for HK$2.68 billion

Growth Capital

• Primavera on the:
  • Series B financing of Zoox, a leading US autonomous-driving startup based in Silicon Valley
  • Series C financing of LoveBonito, Singapore's leading fashion online store for women's wear
  • Series E financing of Bytedance, a Chinese internet technology company
  • Series B financing of Hex Trust, digital asset custody platform
  • Series A financing for a Chinese biomedical company
• Boyu Capital on the Series D financing of Klook, Asia’s largest in-destination services booking platform
• ORIX Asia Capital on the:
  • Series D financing of Dianrong, a China-based online platform for borrowing and lending money
  • Investing in WeCash, a China-based online credit evaluation platform
• The Carlyle Group on the Series D financing of Abbisko Therapeutics, a clinical-stage biopharmaceutical company
• A leading state owned investment firm on the:
  • Series C financing of a cryptocurrency-trading platform
  • An investment into a Hong Kong-based gamification and blockchain leader
  • Series A-3 financing of an AI company based in China
  • An equity and token investment into a China-based GameFi/AI platform
• PE investors on their minority investment in Arrail Group Limited, a leading private dental service provider in China
• Beijing Kuaishou Technology Co., Ltd, a technology company that develops content sharing platforms, on the Series F financing
• Agricultural Bank of China International in its minority investment in Baidu Financing, the financing business carved out from Baidu.com
• An international PE investor on the Series C investment in Ant International, an innovative technology provider