Clifford Chance, Latham & Watkins on Chinese Brokerage's $1.2BN Hong Kong IPO
Shenwan Hongyuan Group's debut on Friday was the biggest listing in Asia so far this year.
April 26, 2019 at 09:18 AM
2 minute read
Clifford Chance and Latham & Watkins took lead roles on Beijing-based securities brokerage house Shenwan Hongyuan Group Co. Ltd.'s $1.16 billion initial public offering in Hong Kong – the biggest listing in Asia so far this year.
Hong Kong's IPO market this year has deflated after a hot year in 2018, which saw 207 listings raise $35 billion – the most since 2010. According to KPMG, there were 36 Hong Kong listings in the first quarter of this year, raising a total of $2.54 billion, down from 62 listings the same quarter last year, which raised a combined $3.11 billion.
Shenwan Hongyuan, which is also listed in Shenzhen, plans to use the proceeds to develop its securities business, fund investments and expansion abroad.
Clifford Chance Hong Kong partners Tim Wang and Fang Liu represented Shenwan Hongyuan. King & Wood Mallesons served as Chinese counsel to the issuer.
Latham & Watkins Hong Kong partners Cathy Yeung and Terris Tang, and Beijing partner Yilong Du, advised Shenwan Hongyuan Capital, Goldman Sachs, ICBC International Capital and ABCI Capital as the joint sponsors. Grandall Law Firm's Shanghai office advised the banks on Chinese law.
|Related Stories:
As Hong Kong Becomes the Top IPO Market of 2018, Skadden and Davis Polk Reap Rewards
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllSkadden to Close in Shanghai and Make Cuts to China Corporate Practice
DWF Group's Canadian Firm Set to Add Fourth Office With 16-Lawyer Montreal Team
UK Law Firms Face £75M Money Laundering Investigations Alongside Russia Scrutiny
3 minute readTrending Stories
- 1A&O Shearman Adopts 3-Level Lockstep Pay Model Amid Shift to All-Equity Partnership
- 2A RICO Surge Is Underway: Here's How the Allstate Push Might Play Out
- 3The Law Firm Disrupted: Playing the Talent Game to Win
- 4Data-Driven Legal Strategies
- 5Preparing Your Law Firm for 2025: Smart Ways to Embrace AI & Other Technologies
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250