
CBI member, and world-renowned international law firm, Clifford Chance has reported that it advised on and completed two major deals in Hong Kong.
Clifford Chance advised leading Mainland China-based investment holding group, Shenwan Hongyuan, on its US$1.16 billion initial public offering on the Hong Kong Stock Exchange, while also managing the Singapore-based consortium, Kai Tak Sports Park Ltd., while it bid to develop, build and operate a $3.8 billion sports park that will become a key part of the Greater Bay Area initiative’s infrastructural development.
Shenwan Hongyuan’s listing on the Hong Kong Stock Exchange is the largest Hong Kong IPO thus far this year. The IPO listing is the 10th PRC securities firms’ Hong Kong IPO that Clifford Chance has worked on, following success advising clients such as, CSC Financial, China Merchants Securities, and China Everbright Securities.
CBI member, and world-renowned international law firm, Clifford Chance has reported that it advised on and completed two major deals in Hong Kong.
Clifford Chance advised leading Mainland China-based investment holding group, Shenwan Hongyuan, on its US$1.16 billion initial public offering on the Hong Kong Stock Exchange, while also managing the Singapore-based consortium, Kai Tak Sports Park Ltd., while it bid to develop, build and operate a $3.8 billion sports park that will become a key part of the Greater Bay Area initiative’s infrastructural development.
Shenwan Hongyuan’s listing on the Hong Kong Stock Exchange is the largest Hong Kong IPO thus far this year. The IPO listing is the 10th PRC securities firms’ Hong Kong IPO that Clifford Chance has worked on, following success advising clients such as, CSC Financial, China Merchants Securities, and China Everbright Securities.
China Co-Managing Partner, Tim Wang said, “Clifford Chance are pleased to continue our streak advising China’s major securities firms on their Hong Kong IPOs. Our team has built up unrivalled expertise and we are fully committed to serving our clients in this sector, whether on outbound investments or securities offerings.”
Clifford Chance’s cross-border team was also busy, advising a consortium titled, Kai Tak Sports Park Ltd. on the successful tender bid for a 25 year contract to design, build and operate the Kai Tak Sports Park, a 28-hectare site occupying the former Kai Tak International Airport which will be converted into a 50,000 seat stadium with a retractable roof and attached indoor sports facilities.
The Kai Tak Sports Park Ltd. consortium was based in Singapore while tendering for the contract, meaning that Clifford Chance had to call on colleagues operating out of both Clifford Chance’s Singapore office and Hong Kong hub to manage the bid.
Hong Kong partner, Frank Yuen said, “This is a really proud moment for Clifford Chance’s multidisciplinary team of colleagues across Hong Kong and Singapore who advised Kao Tak Sports Park Ltd. on their successful bid for this landmark sports infrastructure project in Hong Kong. This complex matter played to Clifford Chance’s strengths as a firm and our ability to work seamlessly as one team for our valued client.”
Clifford Chance serves as a prime example of a UK company finding opportunity within the Greater Bay Area through working in collaboration in an advisory capacity with Mainland Chinese State-Owned Enterprises. Regular readers of China Direct may remember, that on top of these two major wins, Clifford Chance also advised People’s Bank of China on its first multi-currency, multi-tranche bond deal back in January, to support the development of the Greater Bay Area.
To read more about the Greater Bay Area and the opportunities for UK businesses across a range of sectors, please follow the link.
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