Clifford Chance

Clifford Chance advises Huadian Fuxin Energy Corporation on IPO, third biggest in Hong Kong this year

Leading international law firm Clifford Chance has advised Huadian Fuxin Energy Corporation on its issuance of 1.5 billion H shares at HK$1.65 (US$0.21) each. The IPO raised approximately HK$2.48 billion (US$319 million). CITIC Securities, Bank of America Merrill Lynch, UBS and CLSA acted as joint global bookrunners.

Beijing partner Tim Wang who led on the deal said, "I am delighted we could assist Huadian Fuxin with this IPO, the deal reconfirms our leading market position in advising renewable energy companies on its Hong Kong IPO after we advised Longyuan Power, Suntien Green Energy and Datang Renewable Energy on their respective Hong Kong IPOs. Despite the downturn in the market, we have helped launch several high-profile equity capital markets deals including the biggest Hong Kong IPO so far this year for Haitong Securities, raising US$1.68 billion."

Tim was supported by Beijing partner Jean Yu, Hong Kong senior associate Anthony Wan, Beijing associates Tianning Xiang and Ning Liu. Shanghai partner Jean Thio provided US legal advice. She was assisted by Shanghai senior associate Eli Gao and Hong Kong associate Corey Zhang.

Huadian Fuxin is a diversified energy company with hydropower projects and coal-fired power plants in South China's Fujian province and wind power and clean energy projects throughout China.