Hong Kong – November 5, 2025 – Cooley advised the underwriters of Seres Group, an automotive technology company that specializes in new energy vehicles, in connection with Seres’ HK$14.28 billion initial public offering (IPO) of H shares. Seres offered 100,200,000 H shares (offer size adjustment option has been partially exercised and subject to 15% over-allotment option) priced at HK$131.50 per share. The company’s shares began trading on the Hong Kong Stock Exchange on November 5, 2025, under stock code 9927. This marks the largest Hong Kong IPO by an automobile manufacturer in the past four years. It also ranks as the third-largest Hong Kong IPO and the sixth-largest IPO globally to date in 2025*.

China International Capital Corporation Hong Kong Securities and China Galaxy International Securities (Hong Kong) acted as joint sponsors, overall coordinators, joint global coordinators, joint bookrunners and joint lead managers for the offering. Huatai Financial Holdings (Hong Kong) also acted as joint global coordinator, joint bookrunner and joint lead manager.

Lawyers Michael Yu, Will Cai, Kaiting Yang and Dichun Duan led the Cooley team advising the underwriters.

* Data source: Bloomberg

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