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Clifford Chance advises on China Tower's US$6.9 billion IPO

8 August 2018

Clifford Chance advises on China Tower's US$6.9 billion IPO

Leading international law firm Clifford Chance advised the joint sponsors and underwriters including China International Capital Corporation (CICC) and Goldman Sachs on China Tower Corporation Limited's US$6.9 billion (HK$54.3 billion) initial public offering (IPO) and listing on the Hong Kong Stock Exchange (HKEX). China Tower is the world's largest telecommunications tower infrastructure service provider and this offering is the world's largest IPO in two years.

Hong Kong partner Fang Liu led on the deal with partner Amy Lo and Beijing partner Tim Wang, supported by counsel YuFei Liao, senior associate Claire Cao, associates Erxin Lu and Xiaoxi Liu, and trainees Luyi Jiao, Haoze Zheng, Laura Shen and Linyang Wu in Beijing.

"We have been involved in all major aspects of the flourishing mobile internet sector and we're delighted to have worked with CICC and Goldman Sachs on this landmark IPO of China Tower, which provides the critical infrastructure for mobile communications," said partner Fang Liu.

In recent months, Clifford Chance has acted on market leading TMT transactions in Asia Pacific, including Xiaomi Corporation's US$4.7 billion (HK$37 billion) IPO in Hong Kong, and The Carlyle Group's two major fintech sector investments in Ant Financial and Baidu FSG.