Capital Market

As a leading independent brokerage in Hong Kong, Victory delivers integrated cross-border capital market solutions. Utilizing a robust institutional network and top-tier securities financing, primary/secondary market offerings advisory, IPO financial advisory, and M&A restructuring. These offerings facilitate efficient financing, capital structure optimization, and value maximization.

A global distribution network enables the delivery of bespoke financing strategies to meet both long-term growth and short-term objectives.

Overview

Corporate finance operations focus on providing expert advisory services. The team possesses over 20 years of experience in both Chinese and international investment banking, assisting enterprises in formulating strategies for IPOs, M&A, and corporate restructuring.

Primary/Secondary Market Offerings Advisory

Victory provides advisory services for primary/secondary market offerings focusing on financing efficiency, leveraging the established quality client base, excellent distribution capability, and securities financing services of Victory Securities, including margin financing and IPO financing.

Initial public offering (IPO)
Placing of shares
Rights issues / Open offer
Issue of convertibles securities, options or warrants
Margin financing

IPO Financial Advisory

Victory provides advisory services for IPO with a focus on Pre-IPO project execution, particularly early stage IPO feasibility study and introduction of pre-IPO funding, which are essential to set a good foundation for a later successful IPO.

Health check with IPO feasibility study
Pre-IPO project execution

Mergers and Acquisitions Financial Advisory (M&A)

Victory provides advisory services for mergers and acquisitions with a focus on deal completion and value creation of the transactions due to risk and compliance issues.

Takeover of listed companies and other transactions with Takeovers Code implications (e.g., general offer, whitewash waiver application, special deal)
Notifiable transactions and related transactions according to the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (e.g., disclosable transaction, major transaction, very substantial acquisition, very substantial disposal, reverse takeover, connected transaction, etc.)
Due Diligence Review of Target

Corporate Restructuring Financial Advisory

Victory is capable of providing advisory services for capital reorganization and business restructuring, with a focus on devising tailor-made solutions tailored to each client's specific requirements.

Debt restructuring and capital reorganisation
Company reorganization and restructuring, including spin-off
Privatisation
Share incentive scheme, including employee share option scheme and share award scheme
Resumption of trading

Why Choose Victory

As a leading financial institution, Victory distinguishes itself as a premier partner for corporate capital market needs.
Deep insights into local and international market dynamics, combined with low-cost financing tools and rigorous risk management, assist enterprises in achieving optimal valuations for IPOs, placements, and M&A.
Whether in a stage of expansion, integration, or restructuring, Victory provides customized advisory including Pre-IPO bridge funding, due diligence, and privatization strategies to unlock hidden potential.

Extensive global market experience

Innovative solutions from a professional team

Track record of excellence in execution

Client-oriented approach focused on long-term support

Successful Cases

Innovative financial instruments and a history of successful execution assist enterprises in navigating capital market cycles toward high-quality development.

Professional Team

Worked in several Chinese and foreign investment banks in Hong Kong, such as Morgan Stanley Huaxin Funds, Keywise Capital Management, Shenwan Hongyuan (Hong Kong), Central China International, etc. Daphne has many years of experience in the stock capital market and has participated in IPO, stock placement, and corporate financing projects. Daphne is experienced in different types of corporate financing business in various industries and experience in setting up trusts for the employee incentive program

Proficiency in Hong Kong issuance cycles covers market sounding, roadshows, syndicate coordination, and share allocation. A proven track record is evidenced by participation in multi-billion dollar IPOs for companies such as Caocao Inc. (02643.HK), Drinda (02865.HK), Jiangsu Horizon (02625.HK), Guoquan (02517.HK), Xiaomi (01810.HK), Haidilao (06862.HK), SDITC (01697.HK), SinoMab Bio-B (03681.HK), and TuYi Holding (01701.HK).

Daphne Shao

Managing Director｜Global Capital Markets

Francis brings over 15 years of extensive experience in corporate finance and investment banking. He previously held key roles in the investment banking department of CITIC Securities International and the corporate finance and restructuring department of Deloitte Touche Tohmatsu.

Throughout his career, Francis has been actively involved in a wide range of significant transactions in Hong Kong, including A-then-H IPOs, red chip listings, A+H rights issues, A+H new share placements, backdoor listings via reverse takeover, and various cross-border mergers and acquisitions.

Francis holds a BSc in Banking and Finance from the University of London, United Kingdom. He is a Chartered Financial Analyst (CFA) charterholder and a member of CPA Australia.

Francis Chan

Managing Director｜Corporate Finance Department

Contact Us

Professional one-on-one consultations are available to discuss customized capital market solutions.