ICR Asia Advised 13 Cross-Border Transactions in 2020, Accounting for Approximately $5 Billion in Capital Raised
Advised on eight IPOs in New York and Hong Kong that raised $4.8 billion, and five Asia-focused SPAC transactions
Advised on more new capital market listings in the U.S. from Asia region than any other communications firm
Beijing, China – January 11, 2021 – ICR, a leading strategic communications and advisory firm, today announced that its Asia practice provided capital markets communication support on a record 13 cross-border transactions on exchanges in New York and Hong Kong in 2020 that helped clients raise approximately $5 billion in proceeds.
The 13 transactions, which represent an annual record number of deals for the ICR Asia team, included eight newly-listed IPO’s in New York and Hong Kong that helped clients raise $4.8 billion in proceeds. ICR worked on more new U.S. capital market listings by Asia-based companies than any other communications firm last year, and accounted for 50% of the year’s top-six U.S. IPOs from Asia.
ICR Asia supported communications around the U.S. IPO of Lufax Holding Ltd, a leading technology-empowered personal financial services platform in China, which was the year’s largest from Asia, as well as the biggest China-to-U.S. listing since Alibaba’s float in 2014. Other successful IPOs supported by ICR Asia in 2020 included MINISO Group Holding Limited, a fast-growing global value retailer offering a variety of design-led lifestyle products; Chindata Group Holdings Limited, a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets; and Genetron Holdings Ltd., a leading precision oncology company in China that specializes in offering molecular profiling tests, early cancer screening products and companion diagnostics development. Each of these transactions ranked among the top 20-China-to-U.S. listings last year. In Hong Kong, ICR Asia provided corporate communications support as Everest Medicines Limited completed its HK$3.5 billion (US$451 million) IPO.
In addition to supporting clients with strategic communications advisory needs around traditional IPO transactions, ICR Asia also played a leading role in supporting Asian companies that chose to go public through a Special Purpose Acquisition Company, or SPAC. SPACs have transformed the go-public process, and SPAC IPO issuance exceeded traditional IPOs in the U.S. for the first time in 2020. ICR is the largest advisor and communications consultant for SPACs, and the ICR Asia team provided communications support on five SPAC transactions.
“In 2020, ICR Asia supported our clients with capital markets communications programs around a record volume of cross-border transactions including both traditional IPOs, as well as the rapidly growing category of SPAC transactions,” said Bill Zima, Partner at ICR. “The success we had last year is a testimony to ICR’s ability to offer a comprehensive suite of highly customized and integrated sector-specific strategic services.”
ICR’s Asia practice supported approximately fifty private and public companies based in Asia over the last year. Since 2006, the firm has helped executive management teams across Asia reach their long-term goals and potential with strategic communications advisory and support in areas including investor relations, public relations, crisis communications, and digital media solutions.
“ICR brings to our clients in Asia a combination of Wall Street expertise and corporate communication experience,” said Robin Yang, Managing Director in ICR Asia’s investor relations practice. “We are pleased that we continue to be able to support management teams across Asia with proactive and strategic advice that helps them to create and sustain significant equity value.”
“Any company tapping capital markets needs to work hard to craft and deliver a compelling narrative that succinctly captures its differentiators and unique value proposition for investors and the media, but that task is particularly crucial on cross-border transactions,” said Edmond Lococo, Managing Director in ICR Asia’s public relations practice. “The ICR Asia team is uniquely well positioned to help interpret the stories of our Asia-based clients for an international audience, and to help bridge the culture gap between east and west.”
Established in 1998, ICR partners with its clients to execute strategic communications and advisory programs that achieve business goals, build awareness and credibility, and enhance long-term enterprise value. The firm’s highly-differentiated service model, which pairs capital markets veterans with senior communications professionals, brings deep sector knowledge and relationships to more than 750 clients in approximately 20 industries. ICR’s healthcare practice operates under the Westwicke brand (www.westwicke.com). Today, ICR is one of the largest and most experienced independent communications and advisory firms in North America, maintaining offices in New York, Norwalk, Boston, Baltimore, San Francisco and Beijing. Learn more at www.icrinc.com. Follow us on Twitter at @ICRPR.