has maintained its top spot as the leading advisor on Hong Kong Stock Exchange initial public offerings in 2016.
The firm's Greater China team advised on 10 IPOs totalling US$15.293 billion. In 2015, Clifford Chance's Greater China team advised on a total of nine Hong Kong IPOs totalling US$13.5 billion. This was more than 40% of the total proceeds raised by all Hong Kong IPOs in 2015.
From 2012 to 2016, there were 31 IPOs with offering sizes of approximately US$1 billion in the Hong Kong IPO market and Clifford Chance advised on 18 of them, more than any other non-PRC legal advisor.
This year’s transaction which Clifford Chance advised on is led by Postal Saving Bank of China’s IPO valued at US$7.6 billion, the largest IPO globally for the year.
The law firm also advised on CR Pharmaceutical's US$1.8 billion IPO, China Merchants Securities' US$1.3 billion IPO and Everbright Securities' US$1.1 billion IPO.
The firm also advised on the following companies’ IPOs: China Securities (US$992 million), Bank of Tianjin (US$991 million), China Development Bank Leasing (US$800 million), Datang Environment Industry Group (US$250 million), COFCO Meat (US$250 million) and VPower Group (US$200 million).
The firm’s transactions for 2015 includes some of the largest Hong Kong IPOs during that year, including HTSC's US$5 billion IPO and GF Securities' US$4 billion IPO.
Firms act on $8bn HK IPO
Clifford Chance and Freshfields Bruckhaus Deringer advise on Chinese pharma giant’s HK IPO