19 June 2014
Clifford Chance advises Hanhua Financial on its HK$1.86 billion IPO
Leading international law firm Clifford Chance has advised Hanhua Financial Holding Co., Ltd. on its HK$1.86 billion (approx. US$ 239 million) listing on on the Main Board of The Stock Exchange of Hong Kong Limited. A total of 1.15 billion shares were sold at HK$1.62 per share. CICC and China Galaxy acted as joint sponsors and bookrunners.
Hanhua Financial is a leading credit-based guarantee financing provider for small and medium-sized enterprises in China. Proceeds from the listing will primarily be used for its microfinance and small loans business.
Beijing corporate partner Jean Yu who co-led on this transaction said, "I'm delighted to have assisted Hanhua on their successful listing and am proud to have been involved in four of the five biggest listings in Hong Kong this year. Overall, the equity capital market continues to be buoyant despite some market uncertainty arising as a result of the political situations in Thailand and Ukraine."
Tim Wang and Jean Yu co-led the transaction and were supported by counsel John Baptist Chan and associate Hao Wu. A separate team advising on the US aspects of this transaction was co-led by capital markets partners Jean Thio and Fang Liu, supported by associates Corey Zhang and Gehuan Liu.