Slaughter and May advised Alibaba on its cornerstone investment in China Tower
Slaughter and May, Hong Kong, advised Alibaba Group Holding Limited (Alibaba) on its cornerstone investment, through its indirect wholly-owned subsidiary Taobao China Holding Limited (Taobao), in the initial public offering and listing on the Main Board of the Hong Kong Stock Exchange of the H shares of China Tower Corporation Limited (China Tower). Listing and trading on the Hong Kong Stock Exchange of the H shares commenced on 8 August 2018.
Taobao is a company incorporated in Hong Kong with limited liability and is the holding company of certain subsidiaries relating to Taobao Marketplace. Alibaba is a company incorporated in the Cayman Islands and its American depositary shares are listed on the New York Stock Exchange.
China Tower is the world’s largest telecommunications tower infrastructure service provider. According to Frost & Sullivan, in and as of 31 December 2017, China Tower ranked first among the global telecommunications tower infrastructure service providers in terms of the number of sites, the number of tenants, and revenue.