Clifford Chance

Clifford Chance advises on Huitongda's Hong Kong IPO and Listing

Leading international law firm Clifford Chance has advised Huitongda Network Co., Ltd. on its US$284 million initial public offering (IPO) and listing on the mainboard of the Hong Kong Stock Exchange.

Founded in late 2010, Nanjing-based Huitongda is a fast-growing commerce and service platform dedicated to serving business customers in China's retail market. The company provides a comprehensive suite of supply chain services across an extensive network covering 21 provinces and over 20,000 townships throughout China. The joint sponsors on the deal are CICC, Citi and China Renaissance.

China Co-Managing Partner Tim Wang and partners Christine Xu and Fang Liu co-led the deal, with support from foreign legal consultant Sheng Chen, senior associate Qingqing Bu, associate Yaping Li, legal assistant Ran Bi and trainee Yuqing Liu.

Tim said, "We are honoured to have advised Huitongda on its successful listing in Hong Kong. We would like to thank Huitongda for their trust and confidence in our team's expertise."

Christine commented, "This is a strong testament to our market-leading practice that supports companies like Huitongda in the continuous technology innovation in the supply chain."