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“There is certainly a lot of interest from PRC securities firms coming to Hong Kong by way of IPOs, acquisitions or developing a practice here. I expect that there will be more acquisitions of Hong Kong securities firms by PRC companies as well as IPOs” Esther Leung, DLA Piper
| EQUITY MARKET | ►► Guotai Junan International Hong Kong IPO 国泰君安国际香港上市 Value: US$226m
| EQUITY MARKET | ►► Agricultural Bank of China IPO 中国农业银行IPO发行 Value: US$19bn
Firm: DeHeng Law Office Lead lawyer: Wang Li Client: Issuer Firm: Freshfields Lead lawyers: Teresa Ko, Antony Dapiran Client: Issuer Firm: Davis Polk & Wardwell Lead lawyer: Show-Mao Chen Client: Issuer Firm: King & Wood Lead lawyers: Yang Xiaolei, Tang Lizi, Su Zheng
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HEADLINE DEAL
Client: Underwriter Firm: Herbert Smith Lead lawyer: Tom Chau Client: Underwriters Firm: Haiwan & Partners Lead lawyer: Wang Jianyong Client: Sponsors Firm: Allen & Overy Lead lawyers: David Johnson, Mark Roppel, Linda Lee Client: Sponsors
Yang Xiaolei King & Wood
Wang Li DeHeng Law Office
Firm: Slaughter and May Lead lawyers: Laurnece Rudge, Nilufer von Bismarck Client: Investor • A-share IPO marks critical step in the bank's plan to launch dual listing in Shanghai and HK, which is expected to raise between US$17.6bn and US$23bn • CICC, Citic Securities, Galaxy Securities and Guotai Junan Securities lead underwriters
Firm: Li & Partners (Shenzhen) Client: Issuer Firm: Li & Partners (Hong Kong) Client: Issuer Firm: DLA Piper Lead lawyer: Esther Leung Client: Underwriters • Deal was jointly led by three of the biggest investment institutions in Hong Kong • DLA Piper acted for solo sponsor Guotai Junan International, on the first IPO of a German company on Esther Leung the Hong Kong DLA Piper Stock Exchange, Schramm Holding AG last year • Hong Kong and Shenzhen offices of Li & Partners have advised the issuer on Hong Kong and PRC law respectively • Li & Partners is first Hong Kong law firm established by a PRC lawyer
| DEBT MARKET | ►► Nanjing Yangzi BASF syndicated loan 扬子石化巴斯夫贷款项目 Value: US$2.9bn
Firm: King & Wood Lead lawyers: Carolyn Dong, Cai Yongmei Client: Lead arrangers Firm: Jun He Client: BASF • Loan is the largest financing deal of the year • Lead arrangers were headed by Bank of China together with China Construction Bank and China Development Bank • Jun He and King & Wood both have renowned banking and finance teams
Carolyn Dong King & Wood
Cai Yongmei King & Wood
| M&A | ►► Hanergy–Apollo Solar Energy acquisition 汉能收购阿波罗股份 Value: US$2.65bn
Firm: Herbert Smith Lead lawyer: Tom Chau Client: Hanenergy • By completion of this transaction, Beijing-headquartered Hanergy Group will become the largest shareholder of Hong Konglisted Apollo Solar Energy Technology Holdings • As part of the strategic investment, Hanergy made Tom Chau equipment Herbert Smith purchase of US$2.55bn from Apollo Solar Energy • Herbert Smith recently also advised China National Petroleum in its US$1.6bn stake acquisition from Syria Shell Petroleum ISSUE 7.7