Liu Fang focuses on both securities offerings and mergers and acquisitions.
He represents issuers and global investment banks in Hong Kong IPOs, SEC-registered offerings, share placements as well as Rule 144A and Reg. S bond offerings. He also advises PRC state-owned and private companies, multinationals and private equity firms on China inbound and outbound acquisitions, investments, dispositions and related financings. His deal experience extends across a wide variety of industry sectors, including financial services, healthcare/consumer goods, TMT and energy/natural resources.
IPOs and Share Placements
- China Resources Pharma, China Merchants Securities, Postal Savings Bank of China, CDB Leasing, Datang Environmental Technology, China Energy Engineering, Qingdao Bank, CRCC High-Tech Equipment, Xinte Energy, Luzheng Futures, GF Securities, BAIC Motor, CGN Power, Shengmu Organic Diary, Hanhua Financial Holding, Harbin Bank, Huishang Bank, Bank of Chongqing, PW MedTech, Phoenix Healthcare, Hengshi Mining, Shanghai Pharma, Xingda, Minsheng Bank, Bank of China, China Shenhua Energy, PICC, Huaneng Power Int'l, China Pacific Insurance, CNOOC, PetroChina, Charms Communications, China Digital TV, Solarfun and Mindray
- Cinda (AT1), Minsheng Bank (AT1), Huishang Bank(AT1), Union Life, Yangtze Power (exchangeable bond), Agricultural Bank of China (green bond), China Construction Bank (AT1), China Life (CT2), Finance Street, Three Gorges, State Grid Int'l, Bank of China (AT1 and T2), Sichuan Development Holding, CRCC (perpetual), PKU Founder, Nippon Life (regulatory capital) and Datang Power (convertible bond)
- Sensetime's Series B equity financing; IFC's US$300 million investment in Postal Savings Bank of China; co-investments in acquisition consortiums for WuXi Pharma-Tech, Omnivision and PizzaExpress; US$500 million asset disposition by NYSE-listed China Digital TV; Khazanah's investment in Huarong; US$1.5 billion acquisition by COFCO and HOPU of Noble Agriculture; US$1.6 billion investments by UBS and others in Cinda; BGP's investment in and joint venture with Nasdaq-listed ION Geophysical; US$3 billion acquisition by Huaneng Group of Tuas Power; and US$5 billion investments by RBS and others in Bank of China
News and client work
Career and qualifications
- Peking University (LL.B) 1998
- Stanford University (LL.M) 2004
- Admitted to the PRC bar 1999 (currently inactive)
- Admitted to the New York bar 2005
- Admitted as a solicitor in Hong Kong 2012
- Sullivan & Cromwell (2004 to 2013)
- Joined Clifford Chance 2013
- Partner since 2014