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Clifford Chance advises China Resources Pharmaceutical Group on US$1.8 billion Hong Kong IPO

31 October 2016

Clifford Chance advises China Resources Pharmaceutical Group on US$1.8 billion Hong Kong IPO

Leading international law firm Clifford Chance is advising China Resources Pharmaceutical Group (CR Pharma) on its US$1.8 billion IPO and listing on the Hong Kong Stock Exchange. CR Pharma is a leading integrated pharmaceutical company in China engaged in the research and development, manufacturing, distribution and retail of an extensive range of pharmaceutical and other healthcare products. The joint sponsors on the deal are CCBI, CICC, Goldman Sachs and Merrill Lynch.

The team was led by partners Amy Lo, Fang Liu and Tim Wang. They were supported by senior associates Corey Zhang and Liao Yufei, associates Lawrence Zhang, Jennie Lau, Queenie Tong and Lu Erxin and paralegal Vicky Zheng.

Partner Amy Lo said, "We are very glad to have the opportunity to work with our long standing client, China Resources Group, on the listing of one of its key business units, China Resources Pharma, on the Hong Kong Stock Exchange. We previously advised on the listing of China Resources Cement in 2009."

Partner Fang Liu said, "This offering is expected to be the largest healthcare deal in recent years in Asia and will further enhance our already leading pharmaceutical/healthcare practice in the region."

Clifford Chance's Greater China team is the market leader advising on the most significant Hong Kong listings. This year the list includes Postal Savings Bank of China for $7.6 billion (the largest globally thus far for 2016 and in Hong Kong since 2010), China Merchants Securities' for US$1.4 billion, China Everbright Securities' for US$1.11 billion, Bank of Tianjin's for US$991 million and CDB Leasing's for US$800 million.