Clifford Chance

Clifford Chance advises CDB Leasing on US$800 million IPO

Leading international law firm Clifford Chance has advised China Development Bank Financial Leasing Co., Ltd. (CDB Leasing) on its US$800 million IPO, without taking into consideration the exercise of the over-allotment option. Joint sponsors were CITIC CLSA, Merrill Lynch and Deutsche Securities Asia. CDB Leasing is the largest leasing company in China by assets and is the first of the China Banking Regulatory Commission-regulated financial leasing companies to be listed in Hong Kong.

China Co-Managing Partner Tim Wang said, "We were delighted to assist CDB Leasing on its IPO. Our team has advised a wide range of clients on their IPOs over the years and will work hard to maintain our market leading position despite the recent volatility in the market."

Tim and partner Fang Liu co-led the transaction. They were supported by counsel Tianning Xiang, senior associate Corey Zhang, and associates Lawrence Zhang, Claire Cao and Emma Bao.

Earlier this year, Clifford Chance advised on Bank of Tianjin's US$991 million IPO, the first of the year for a banking institution. Last year the team advised on nine IPOs totalling US$13.5 billion.