Leading international law firm Clifford Chance has advised the 21 joint bookrunners* on China Galaxy Securities US$1.07 billion IPO on the Hong Kong Stock Exchange. Joint global coordinators for the deal were Goldman Sachs, JP Morgan, China Galaxy International Securities Hong Kong Limited, ABCI Capital Limited and Nomura. The company sold approximately 1.6 billion H shares at HK$5.30 each.
“We were delighted to work on this deal and see such a positive response from retail investors which triggered a clawback,” said Beijing partner Tim Wang. “This deal signals a welcome return of retail investors and perhaps will pave the way for increased activity in the Hong Kong IPO market. In 2012, our team was very pleased to have advised on half of all H share IPOs.”
Tim and Hong Kong partner Cherry Chan who led on the deal were supported by Hong Kong consultant John Baptist Chan and Beijing associates Tianning Xiang, Marcus Chen and Hao Wu. Shanghai partner Jean Thio and associate Lindsay Gao advised on the US law aspects of the transaction.
China Galaxy Securities is one of the largest brokerage service providers in China.
