Kirkland & Ellis represented Vision Deal HK Acquisition Corp. (Vision Deal), a special purpose acquisition company, in its listing of shares (HKSE: 7827) and warrants (HKSE: 4827) on the Hong Kong Stock Exchange on June 10, 2022. This marks the second Hong Kong SPAC listing under the city’s new SPAC regime which took effect on January 1, 2022.
Vision Deal intends to focus primarily on high-quality companies in China that specialize in smart car technologies or possess supply chain and cross-border e-commerce capabilities in its search for a De-SPAC target. The promoters of the SPAC include Mr. Zhe Wei, the chairman and founding partner of Vision Knight Capital, DealGlobe Limited, a cross-border boutique investment bank, and Opus Capital Limited, a corporate finance advisory firm licensed under the SFO. Vision Deal is the first Hong Kong SPAC listing led by promoters with substantial entrepreneurial and private equity background. It is also the largest Hong Kong SPAC listing to date by offering size.
The Kirkland team was led by transactional partner David Zhang and capital markets partners Mengyu Lu, Steve Lin and Kelvin Chu.