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Clifford Chance leads the market advising on Hong Kong IPOs in 2016

28 December 2016

Clifford Chance leads the market advising on Hong Kong IPOs in 2016

Hong Kong: Leading international law firm Clifford Chance maintains its market leading position advising on the biggest initial public offerings on the Hong Kong Stock Exchange for 2016. The firm's Greater China team advised on 10 IPOs totalling US$15.293 billion. The list includes Postal Savings Bank of China's US$7.6 billion IPO, the largest IPO globally for 2016, CR Pharmaceutical's US$1.8 billion IPO, China Merchants Securities' US$1.3 billion IPO and Everbright Securities' US$1.1 billion IPO. 

China Co-Managing Partner Tim Wang said, "It has been very exciting and rewarding to work on these headline deals and we thank our clients for their support. I'm very proud of our team who has done a fantastic job this year. Their wide-ranging expertise has proven to be invaluable for our clients and we look forward to another successful year in 2017."

Unrivalled track record 2016: the complete list

Company name  Deal value US$ 
Postal Saving Bank of China   7.6 billion (largest IPO globally for 2016)
CR Pharmaceutical               1.8 billion
China Merchants Securities 1.3 billion
Everbright Securities 1.11 billion
China Securities 992 million
Bank of Tianjin 991 million
China Development Bank Leasing  
 
800 million
(2nd PRC leasing company to go public)     
Datang Environment
Industry Group     
250 million
 
COFCO Meat 250 million
VPower Group 200 million


In 2015, Clifford Chance's Greater China team advised on a total of nine Hong Kong IPOs totalling US$13.5 billion, which amounted to over 40% of the total proceeds raised by all Hong Kong IPOs in 2015. This included the largest Hong Kong IPOs in 2015, HTSC's US$5 billion IPO and GF Securities' US$4 billion IPO.

From 2012 to 2016, there were 31 IPOs with offering sizes of approximately US$1 billion in the Hong Kong IPO market and Clifford Chance advised on 18 of them, more than any other non-PRC legal advisor.