Campbells acted as the Cayman Islands legal counsel of Bloks Group Limited on its initial public offering and listing on Hong Kong Stock Exchange

Campbells acted as the Cayman Islands legal counsel of Bloks Group Limited in connection with its HK$1.6 billion initial public offering and listing on the Main Board of the Hong Kong Stock Exchange.

Campbells acted as the Cayman Islands legal counsel of Bloks Group Limited (“Bloks”) in connection with its approximately HK$1.6 billion initial public offering and listing of over 27 million shares (assuming the over-allotment option is not exercised) on the Main Board of the Hong Kong Stock Exchange. Despite the market situation, the Hong Kong Public Offering was oversubscribed by around 6,000 times, the second highest on record for companies successfully listed in Hong Kong and attracted a total sum of HK$873.3 billion of subscription funds which is the highest in the history of the HKIPO market.

Bloks is China’s largest and leading player in the assembly character toy segment, according to Frost & Sullivan. Leveraging its portfolio of more than 500 patents, in-house IP development capability and cooperative relationships with approximately 50 renowned IP franchises on a non-exclusive basis, they are dedicated to providing consumers with a wide range of quality-for-money assembly character toys. Bloks was selected as the “National Intellectual Property Advantage Enterprise” by the National Intellectual Property Administration; as well as “Shanghai Patent Work Demonstration Enterprise” by the Shanghai Intellectual Property Administration in 2023.

Freshfields and Clifford Chance acted as Hong Kong and U.S. legal counsel to Bloks and to the joint sponsors and the underwriters respectively. Jingtian & Gongcheng and King & Wood Mallesons acted as PRC legal counsel to Bloks and to the joint sponsors and the underwriters respectively. The joint sponsors are Goldman Sachs (Asia) L.L.C and Huatai Financial Holdings (Hong Kong) Limited, and the underwriters include Goldman Sachs (Asia) L.L.C and Huatai Financial Holdings (Hong Kong) Limited and Futu Securities International (Hong Kong) Limited.

Campbells Partner Jenny Nip led the transaction with support from Associate Chantelle Chan and Legal Manager Benjamin Tao.

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