Clifford Chance

Clifford Chance advises on Guotai Junan Securities' US$2.1 billion Hong Kong IPO

Leading international law firm Clifford Chance advised the underwriters, Guotai Junan International, Goldman Sachs, Bank of America Merrill Lynch and Shanghai Pudong Development Bank International, and a group of 20 syndicate members, on Guotai Junan Securities' US$2.1 billion initial public offering on the Hong Kong stock exchange. Guotai Junan Securities is one of the leading Chinese securities houses.

China Co-Managing Partner Tim Wang led the deal along with partner Jean Thio advising on the US aspects, and partner Virginia Lee. They were supported by senior associates Lorna Lu and Corey Zhang, associates Xiaoxi Liu, Mia Zhang, Anson Chan, and trainee Xuemei Wang.

The Firm also advised on Kunming Dianchi Water Treatment's US$170 million initial public offering on the Hong Kong stock exchange. A team led by partners Tim Wang, Jean Yu and Jean Thio (providing US counsel), advised the sole sponsor, Morgan Stanley, and joint global coordinators, Morgan Stanley, CICC, Haitong Securities and Zhongtai International Securities. Dianchi Water Treatment is a leading municipal wastewater treatment and reclaimed water supply services provider in Yunnan Province, China.

The partners were supported by senior associates Yufei Liao, Lorna Lu and Claire Cao, associate Qingyu Wu, and trainees Florence Mao and Hongzhou Chen.

Tim said, "The Hong Kong IPO market continues to be buoyant and we are pleased to advise companies from a full range of sectors. The IPO process has become increasingly complex in recent times with a steady stream of high profile clients looking to launch. I am proud of our team who continues to lead as the market evolves."

Thus far for 2017, in addition to the above, the Greater China team has advised on the Hong Kong listings of Jilin Jiutai Rural Commercial Bank's for US$390 million and on Hospital Corporation of China Limited's for US$64 million.