Sidley Austin has hired Lu Mengyu as a partner in its Beijing office where she will focus on advising mainland Chinese companies with Hong Kong listing ambitions, the company said in a statement on Thursday.
Lu joined the Chicago-based law’s corporate finance unit this month from Kirkand & Ellis, where she spent four years before she was promoted to partner last year. During her career with Kirkland, she advised on a number of equity deals, including China Galaxy Securities $3.1 billion share sale in April.
The China Galaxy deal appeared to have been well timed, arriving as the Hong Kong and Shanghai stock markets had rallied to seven-year highs. The liquidity-driven boom was proved to be short-lived, however, and a sharp correction from the peak level in mid-June saw market value crumble.
China Galaxy’s two billion primary shares were priced at HK$11.99 per share at the time of the listing in late April, representing almost half the value of the closing price of HK$6.3 on October 9.
Before joining Kirkland, Lu spent two years in the Beijing office of Freshfields Bruckhaus Deringer.
"Mengyu’s experience and market reputation will enhance a team that for over 15 years has represented issuers and underwriters in numerous equity raising transactions through listings in Hong Kong,” said Thomas Albrecht, managing partner for Sidley, Asia Pacific.
With the latest hire, Sidley Austin has 12 lawyers in Beijing, including five partners.