Slaughter and May advised on the Hong Kong IPO of Cirrus Aircraft Limited

Slaughter and May, Hong Kong and Beijing, advised on the global offering and listing of Cirrus Aircraft Limited (“Cirrus”) on the Main Board of the Hong Kong Stock Exchange, raising approximately HK$1.5 billion (approximately US$193 million) for the issue of approximately 15% of Cirrus’ issued share capital, before any exercise of the over-allotment option. 

Slaughter and May advised China International Capital Corporation Hong Kong Securities Limited (“CICC”), who acted as sole sponsor, sole overall coordinator, sole global coordinator, joint bookrunner and joint lead manager, as well as the underwriters, as to Hong Kong and U.S. laws on the global offering and the Hong Kong listing.

Founded in 1984, Cirrus is a U.S.-based global personal aircraft manufacturer, primarily engaged in the design, development, manufacturing and sales of premium aircrafts with a strong focus on safety, technology, connectivity, performance and comfort. Cirrus was the largest personal aircraft manufacturer globally in terms of delivery units and sales revenue in 2023, according to Frost & Sullivan. 

Dealings in the shares of Cirrus commenced on the Hong Kong Stock Exchange on 12 July 2024. 

Hong Kong partner, John Moore, commented “We are thrilled to have worked with CICC and Cirrus on the listing of the world’s largest personal aircraft manufacturer. This is a significant milestone for Cirrus, and we wish them every success in the future.” 

Senior partner, Benita Yu, added “Many congratulations to CICC and Cirrus on the successful listing of Cirrus, which is the second largest IPO in Hong Kong this year. It has been rewarding to be able to help navigate the complex cross border regulatory requirements arising out of the fact that Cirrus is based in the US, has a PRC parent and is seeking a listing in Hong Kong. We would like to thank our clients and everyone involved for their wonderful support throughout the process.”