Ogier in Hong Kong advises Guming on US$232mn HKEX IPO

Ogier's Corporate specialists in Hong Kong acted as Cayman Islands counsel to Guming Holdings Limited, a leading and rapidly expanding PRC-based bubble tea producer, on its initial public offering and listing on the Main Board of the Hong Kong Stock Exchange and the international offering in reliance on Regulation S.

Shares in Cayman-incorporated Guming Holdings Limited (Guming) commenced trading on the Hong Kong Stock Exchange (HKEX) on 12 February 2025. The gross proceeds from the initial public offering (IPO) amounted to approximately US$232 million after the full exercise of the offer size adjustment option and prior to the exercise of the over-allotment option.

Guming’s brand, “Good me (古茗)”, is the PRC’s largest mid-priced freshly made tea store brand and the second largest freshly made tea store brand across all price ranges, in terms of both gross merchandise value in 2023 and store count as of 31 December 2023.

The Ogier team in Hong Kong was led by partner Cecilia Li with support from the firm’s global head of Corporate Nathan Powell, associate Randa Leung, legal manager Kingston Tang and paralegal Josie Ma.

Ogier worked closely with Skadden, Arps, Slate, Meagher & Flom and affiliates as the company's Hong Kong and US counsel and Shihui Partners as the company's PRC counsel. Cleary Gottlieb Steen & Hamilton (Hong Kong) acted as Hong Kong and US counsel to the joint sponsors and underwriters and Jingtian & Gongcheng provided PRC counsel.