30 March 2016
Clifford Chance advises on Bank of Tianjin's US$949 million IPO
Leading international law firm Clifford Chance has advised the joint global coordinators, BOCI Asia Limited, ABCI Securities Company Limited, CCB International Capital Limited, Guotai Junan Securities (Hong Kong) Limited, Haitong International Securities Company Limited and AMTD Asset Management Limited, on the Bank of Tianjin's US$949 million IPO. The Bank sold 995.5 million shares at approximately US$0.95 each, and secured US$560 million in commitments from cornerstone investors.
Partner Amy Lo and US securities partner Jean Thio co-led the transaction. They were supported by partner Tim Wang, consultant Philip Chan and associates Anson Chan, Dandan Liu, Gehuan Liu, Mia Zhang and Xudong Zhang.
Amy said, "We were pleased to advise on the first Hong Kong IPO for a banking institution for 2016. This follows the team's stellar performance last year advising on nine IPOs totalling US$13.5 billion."
Bank of Tianjin Co. Ltd. is the only city commercial bank headquartered in Tianjin, one of the four municipalities in China. According to industry publication The Banker, Bank of Tianjin ranked 219th among the “Top 1000 World Banks” in 2015.