Clifford Chance

Clifford Chance advises CLSA on US$1.77 billion rights issue for China Zheshang Bank

Leading international law firm Clifford Chance has advised CLSA Ltd. on its underwriting of A shares rights issue and H shares rights issue of China Zheshang Bank Co., Ltd, with proceeds amounting to US$1.77 billion (HK$13.8 billion).

China Co-Managing Partner Tim Wang who led on the deal said, “We are proud to advise CLSA on its rights issue for China Zheshang Bank, highlighting our role on the most complex and significant equity capital markets transactions in the region.”

Tim was supported by partner Virginia Lee (Hong Kong), Jing Jing (Beijing), Jingyi Zhang (Beijing) and Xinyi Hu (Beijing). Partner Jean Thio (Singapore) and Yuanjing Chen (Shanghai) provided support on U.S. law.

CLSA provides global corporate and institutional clients with corporate finance and capital markets, asset management, wealth management and securities services.

Hangzhou-headquartered China Zheshang Bank is one of the twelve nationwide joint-stock commercial banks. It intends to use the proceeds to replenish its core tier-one capital.