Davis Polk & Wardwell is advising Chinese investment bank China International Capital Corp. on a planned $1 billion initial public offering in Hong Kong.
According to regulatory filings, Beijing-based CICC plans to list in September, allowing private equity shareholders KKR & Co. and TPG Capital to exit that stakes in CICC they acquired five years ago. CICC said it will use the net proceeds to grow its equity underwriting, and wealth and investment management businesses.
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