Norton Rose Fulbright advises on first Hong Kong IPO of insurance intermediary business

Global law firm Norton Rose Fulbright has advised CITIC Securities Hong Kong and Ping An of China Capital Hong Kong as joint sponsors, in relation to the global offering and H share listing of Zhongmiao Holdings (Qingdao) Co., Ltd. on the Main Board of the Hong Kong Stock Exchange, the first insurance intermediary traded in Hong Kong.

Backed by Chinese Fortune 500 company Haier Group, Zhongmiao is an insurance agency service provider. Since its inception, Zhongmiao has focussed on the digital transformation of the insurance intermediary industry and has also developed a variety of innovative digital platforms.

The Norton Rose Fulbright team was led by partners Psyche Tai, Doris Ng and Ethan Chen, who were supported by senior associate Jane Yau and associate Mark Lam.

Psyche Tai, the head of Norton Rose Fulbright’s Hong Kong office and capital markets practice, commented: “We are delighted to advise on this first-of-its kind listing on the HKSE, and look forward to witnessing even more exciting development of the dynamic and fast-growing Chinese insurance sector driven by digital transformation.”