7 July 2015
Clifford Chance advises on the IPO of Luzheng Futures
Hong Kong: Leading international law firm Clifford Chance has advised Luzheng Futures on its US$118 million IPO. This is the first IPO for a mainland Chinese futures company.
Partner Tim Wang co-led the deal with partner Fang Liu who advised on the US law aspects. They were supported by counsel John Baptist Chan and associates Corey Zhang, Lawrence Zhang and Claire Cao.
Luzheng Futures is the largest futures firm in terms of futures brokerage trading volume in Shandong in 2014 with a diversified futures business and a strategic presence in China.
Clifford Chance has a market leading position advising Chinese financial institutions on their Hong Kong IPOs. Apart from Luzheng Futures, Clifford Chance has advised on two mega IPOs this year – HTSC's US$5 billion IPO and Guangfa Securities's US$4.5 billion IPO. In 2014 alone, Clifford Chance successfully completed 14 IPOs in Hong Kong including three for financial institutions -- Harbin Bank, Central China Securities and Hanhua Financial Holdings.