Leading international law firm Clifford Chance has advised Haitong Securities Co., Ltd. on its proposed issue of 1.92 billion new H-shares at HK$15.62 each aiming to raise a total of US$3.9 billion in a private placement to seven institutional investors. The deal is subject to shareholders’ and regulatory approvals. More >>
Tags: Clifford Chance LLP | Hong Kong
Linklaters are the lead counsel on the US$26 billion merger of CSR Corporation Limited (“CSR”) and China CNR Corporation Limited (“CNR”). This is the first-ever merger of two companies with dual listings in Shanghai and Hong Kong and the first-ever securities exchange involving two sets of A shares and two sets of H shares. More >>
Tags: Linklaters | Hong Kong
International law firm Freshfields Bruckhaus Deringer has advised the underwriters on the US$1.3bn global offering and listing of Shengjing Bank on the Hong Kong Stock Exchange which took place today.
The listing is one of Asia’s largest bank IPOs by value in recent years. More >>
Tags: Freshfields Bruckhaus Deringer LLP | Hong KongDavis Polk advised Mongolian Mining Corporation on its $201 million global rights offering. The global rights offering consisted of a public offering of H shares (shares listed on the Hong Kong Stock Exchange) in Hong Kong and private placements of H shares to institutional investors outside of Hong Kong, including within the United States to a limited number of qualified institutional investors in reliance on Section 4(a)(2) of the U.S. Securities Act. J.P. Morgan Securities (Asia Pacific) Limited and BNP Paribas Securities (Asia) Limited were the joint underwriters, and Somerley Capital Limited was the independent financial adviser of the H share rights offering. More >>
Tags: Hong Kong | LondonLeading international law firm Clifford Chance has advised BAIC Motor Corporation Limited on its US$1.42 billion H-share listing on the Hong Kong Stock Exchange. A total of 1.24 billion shares were offered at HK$8.90 per share, raising HK$11.03 billion. Proceeds will be used for investment into production facilities, new car development and to pay down debts. More >>
Tags: Clifford Chance LLP | Beijing | Hong KongInternational law firm Freshfields Bruckhaus Deringer has advised Sateri Holdings on the disposal of its viscose staple fiber business in mainland China. More >>
Tags: Freshfields Bruckhaus Deringer LLP | Hong Kong
The Industrial and Commercial Bank of China Ltd. (ICBC), China’s largest lender, issued USD5.65 billion equivalent in aggregate of Basel III-compliant Additional Tier 1 preference shares. Allen & Overy advised ICBC International as Sole Global Coordinator and ICBC International, Goldman Sachs, UBS and Bank of America Merrill Lynch as joint lead managers and joint bookrunners on ICBC’s debut offshore AT1 preference share offering. More >>
Tags: Hong KongInternational law firm Freshfields Bruckhaus Deringer has advised the underwriters on the US$1.17bn rights issue of PICC Property and Casualty Company Limited (PICC P&C).
PICC P&C, the Chinese state-controlled and China’s leading non-life insurer, has issued around 397.8m H-shares at HK$7.46 per share and 844.6m domestic shares at RMB5.92 per share. PICC P&C has raised a total of RMB7.24bn (US$1.17bn) from the rights issue. More >>
Tags: Freshfields Bruckhaus Deringer LLP | Beijing | Hong Kong
Shearman & Sterling advised CGN Power Co., Ltd. (“CGN Power”), the largest nuclear power producer in China, in connection with its primary listing on the Main Board of The Stock Exchange of Hong Kong Limited and global offering with a size of approximately HK$24.5 billion (US$3.2 billion) (or HK$28.0 billion if the over-allotment option is fully exercised). More >>
Tags: Shearman & Sterling LLP | Beijing | Hong Kong | Palo Alto