Clifford Chance

Clifford Chance advises on China CNR's US$1.2 billion IPO

Leading international law firm Clifford Chance has advised UBS, CICC, Macquarie, Deutsche Bank and Goldman Sachs as joint global coordinators on China CNR Corporation Limited's US$1.2 billion IPO on the Stock Exchange of Hong Kong. The company sold 1.82 billion shares at HK$5.17.

This is the second largest listing in Asia this year. The firm also recently advised Harbin Bank on its HK$8.8 billion (approx. US$ 1.13 billion) IPO last month.

"I'm pleased to have worked with the banks on China CNR's IPO," said Corporate partner Jean Yu, who co-led on this transaction. "The listing has been well-received in the market supported by a number of cornerstone investors and solid institutional demand."

Jean Yu and Beijing partner Tim Wang co-led on the deal and was assisted by senior associate Liu Ning, associate Wu Hao and trainee Liu Xiaoxi. Capital Markets partner Jean Thio advised on US law aspects of this transaction and was assisted by senior associate Vincent Wang and associate Liu Gehuan.

China CNR Corporation Limited, formerly known as China North Locomotive and Rolling Stock Industry (Group) Corporation, is a manufacturer of locomotives and rolling stock for the domestic market and also exports to over 80 countries around the world