International law firm Clifford Chance has advised JS Global Lifestyle Co., Ltd, a company listed on the Hong Kong Stock Exchange (HKSE) specialising in high-quality and innovative small household appliances, on its spin-off and New York Stock Exchange (NYSE) listing of its subsidiary SharkNinja. SharkNinja began trading on the NYSE on July 31, 2023 under ticker symbol "SN".
The transaction resulted in existing shareholders of JS Global receiving a pro rata distribution of the shares of SharkNinja, through a PN-15 process under the Hong Kong Listing Rules. SharkNinja is a global consumer product design and technology company.
Partners David Brinton (New York) and Virginia Lee (Hong Kong) jointly led a multi-disciplinary and cross-border transactional team along with New York-based associate Eric Schaffer and Hong Kong-based counsel Claire Cao.
They were assisted by a global team of lawyers out of Clifford Chance's New York, Shanghai, Beijing, Hong Kong, London and Tokyo offices, and from its M&A, capital markets, global financial markets, intellectual property and technology, and employment practices. Out of the United States, the team comprised of partners Howard Adler (New York) and Jonathan Zonis (New York); counsel Daryl Fairbairn (New York); and associates Soyeon Kim (New York), Jennifer Saionz (New York) and Jack Weymer (New York). Out of the Greater China offices of the firm, the team included partner Tianning Xiang (Beijing), counsels Lorna Lyu (Shanghai) and Yue Zheng (Shanghai); associates Yuer Shao (Beijing), Astrid Zhuang (Shanghai); and trainee Luna Xu (Shanghai). Partners Natsuko Sugihara (Tokyo) and Erik O'Connor (London), together with associates Shunsuke Nagae and Machiko Ishii (Tokyo), and Daniel Redmond (London) also supported the team.
Brinton says, "We were proud to assemble a global team to support our long-time client JS Global on this matter."
Lee says, "We are truly pleased to have this opportunity to work closely with JS Global on this highly complex transaction on a multi-jurisdictional basis and to assist JS Global in achieving a successful closing."