Clifford Chance

Clifford Chance leads in Hong Kong IPOs for 2015

Greater China team advises on nine IPOs totalling US$13.5 billion

Leading international law firm Clifford Chance has advised on nine initial public offerings, more than any other non-PRC legal advisor, on the Hong Kong Stock Exchange raising a total of approximately US$13.535 billion (HK$104.94 billion). The Greater China team advised on the largest two IPOs this year, HTSC's US$5 billion IPO and GF Securities' $4 billion IPO, in addition to China Energy Engineering Corporation Limited's US$1.8 billion IPO and China Railway Signal & Communication Corporation's US$1.4 billion IPO.

Beijing partner Tim Wang said, "We have a highly experienced and diverse team to complement the wide-ranging nature of the IPOs that we have supported in 2015. We are ambitious in our approach and look forward to assisting clients in this space in 2016."

In December the team advised on a number of listings including the following:

• Advised Goldman Sachs, and AMTD Asset Management Limited in their roles as joint global coordinators to Bank of Qingdao Co., Ltd's US$607 million IPO. Partners Tim Wang, Amy Lo and US securities partner Fang Liu co-led the transaction. They were supported by counsel Liu Ning, and associates Janet Tang, Yue Song and Gehuan Liu.
• Advised CLSA Limited as sole global coordinator and CLSA Limited, Deutsche Bank AG, Hong Kong Branch and China International Capital Corporation Hong Kong Securities Limited in their roles as joint bookrunners to CRCC High-Tech Equipment Corporation Limited's US$360 million IPO. Partners Tim Wang and US securities partner Fang Liu co-led the transaction. They were supported by senior associates Louis Lim and Tianning Xiang, associates Gehuan Liu and Claire Cao.
• Advised Xinte Energy Co, Ltd. on its proposed US$166 million IPO. The team was led by partner Tim Wang, US securities partner Fang Liu and counsel John Baptist Chan. They were assisted by senior associate Corey Zhang and associates Wu Hao, Vivian Li, Xiaoxi Liu and trainee Carlton Ng. Xinte Energy is a leading solar-grade polysilicon producer and PV project contractor. UBS, GF Securities, AMTD Asset Management and BOCI Asia are the Joint Global Coordinators.

Clifford Chance has consistently maintained a market leading position for IPOs in Hong Kong. Last year, the Firm successfully completed 14 IPOs in Hong Kong including four with offering sizes exceeding US$1 billion each.