Clifford Chance

Clifford Chance advises on Nongfu Spring's US$1.08 billion Hong Kong IPO and Listing

Leading international law firm Clifford Chance has advised the joint sponsors China International Capital Corporation (CICC) and Morgan Stanley, and the other underwriters Citi and CLSA on Chinese bottled water and beverage company Nongfu Spring's US$1.08 billion initial public offering and listing on the main board of the Hong Kong Stock Exchange of Hong Kong.

The IPO by the Hangzhou-based company is one of the largest in Hong Kong and the world's second largest by a food and beverage company so far this year.

China Co-Managing Partner Tim Wang together with partners Liu Fang and Tianning Xiang co-led on the deal, with support from a team in Hong Kong, Beijing and Shanghai which includes senior associates Claire Cao, Erxin Lu and Sheng Chen, associates Alex Feng and Tao Yang, and trainees Yuer Shao and Ada Zheng.

Clifford Chance's market leading practice had previously advised on two of Hong Kong's largest IPOs this year: JD.com's US$3.87 billion IPO and secondary listing and China Bohai Bank's US$1.78 billion IPO.