On December 12, 2023, Xiamen Yan Palace Bird’s Nest Industry Co., Ltd. (Yan Palace) successfully listed on the Main Board of the Stock Exchange of Hong Kong (SEHK), raising approximately HK$310.4 million (US$39.8 million) from its IPO, or approximately HK$357.0 (US$45.8 million) million if the underwriters exercise their over-allotment option in full. Wilson Sonsini Goodrich & Rosati acted as issuer’s U.S. and Hong Kong counsel in the IPO and SEHK listing.

Yan Palace is a leading consumer brand in China that breathed new life into edible bird’s nest (EBN) products, a time-honored Chinese traditional delicacy. Dedicated to the development, production, and marketing of high-quality modern EBN products, Yan Palace was the largest EBN product company in China in terms of retail value in 2022. Yan Palace’s IPO was well-received in Hong Kong, with an oversubscription of more than 83 times in the retail category.

The Wilson Sonsini team that represented Yan Palace in this transaction was led by partner Dan Ouyang, China partner Can Yin, Of Counsels Ke Li and Zhenzhen Bao, and associates Rujin Ruan, Giselle Ma, and Darren Zhuang.

Please see the company’s news release for more information.