Clifford Chance

Clifford Chance advises on Shandong International Trust's US$380 million IPO

Leading international law firm Clifford Chance advised the joint sponsors and underwriters including CCB International, Haitong International and BOCOM International on Shandong International Trust's initial public offering of 647 million shares on the Hong Kong Stock Exchange for US$380 million (HK$2.95 billion). Shangdong International Trust is the first trust company from China to launch an IPO in Hong Kong.

The offering has drawn five cornerstone investors to take up a combined subscription amount of approximately US$180 million (HK$1.40 billion): Jinan Finance Holding Group, ICBC Asset Management, Shandong Development & Investment, China Merchants Bank Asset Management and Shandong Guohui Investment.

Partners Tim Wang, Virginia Lee and Jean Thio led on the deal with support from senior associate Claire Cao, associates Liu Gehuan, Chen Sheng and trainees He Yanding and Peng Jiwen.