Skip to main content

Clifford Chance

Clifford Chance

News and awards

Clifford Chance advises Harbin Bank on HK$8.8 billion IPO

4 April 2014

Clifford Chance advises Harbin Bank on HK$8.8 billion IPO

International law firm Clifford Chance has advised Harbin Bank on its HK$8.8 billion (approx. US$1.13 billion) global offering and listing on the Main Board of the Stock Exchange of Hong Kong. The Company sold a total of 3,023,570,000 shares at HK$2.90 each. Harbin Bank started trading in Hong Kong on Monday, 31 March 2014.

Harbin Bank is a joint-stock commercial bank focusing on micro-credit business to support small and medium sized enterprises. Founded in 1997, Harbin Bank is based in Harbin, China with branches across the country, including in Tianjin, Chengdu, Shenyang, Dalian and Chongqing. The bank ranks No. 33 in Standard & Poor's 2012's Top 50 Chinese Banks. According to UK’s Banker magazine 2013 ‘Global 1000 Banks’, Harbin Bank is ranked No. 313 in terms of first-class total capital ranking, No. 27 among the Chinese-funded banks, and No. 1 among the city commercial banks in the north-east region of China.

"We are delighted to assist Harbin Bank with its successful IPO in Hong Kong, which included early support from several cornerstone investors," commented Corporate partner Amy Lo. "We are proud to have helped launch multiple Hong Kong listings in March, including Haichang Holdings' US$315 million listing and Poly Culture Group's US$331 million listing."

The Clifford Chance team comprised Corporate partner Amy Lo, senior associate Anthony Wan and associate Paul Chan in Hong Kong. Shanghai partner Jean Thio advised on the US aspects of this transaction and was supported by counsel Fang Liu, and associates Samia Qian and Lawrence Zhang.