Cadwalader Expands Greater China Corporate Practice

Cadwalader, Wickersham & Taft LLP, a leading law firm to global financial institutions and corporations, announces the appointment of a team of three partners and four counsel to its Greater China practice, based in Hong Kong.

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Linklaters advises on US$26 billion Chinese Train Manufacturers Merger

Linklaters are the lead counsel on the US$26 billion merger of CSR Corporation Limited (“CSR”) and China CNR Corporation Limited (“CNR”). This is the first-ever merger of two companies with dual listings in Shanghai and Hong Kong and the first-ever securities exchange involving two sets of A shares and two sets of H shares.

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Freshfields advises on Shengjing Bank IPO

International law firm Freshfields Bruckhaus Deringer has advised the underwriters on the US$1.3bn global offering and listing of Shengjing Bank on the Hong Kong Stock Exchange which took place today.

The listing is one of Asia’s largest bank IPOs by value in recent years.

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Mongolian Mining Corporation Rights Offering

Davis Polk advised Mongolian Mining Corporation on its $201 million global rights offering. The global rights offering consisted of a public offering of H shares (shares listed on the Hong Kong Stock Exchange) in Hong Kong and private placements of H shares to institutional investors outside of Hong Kong, including within the United States to a limited number of qualified institutional investors in reliance on Section 4(a)(2) of the U.S. Securities Act. J.P. Morgan Securities (Asia Pacific) Limited and BNP Paribas Securities (Asia) Limited were the joint underwriters, and Somerley Capital Limited was the independent financial adviser of the H share rights offering.

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Clifford Chance advises BAIC Motor on US$1.42 billion Hong Kong IPO

Leading international law firm Clifford Chance has advised BAIC Motor Corporation Limited on its US$1.42 billion H-share listing on the Hong Kong Stock Exchange. A total of 1.24 billion shares were offered at HK$8.90 per share, raising HK$11.03 billion. Proceeds will be used for investment into production facilities, new car development and to pay down debts.

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China’s largest bank issues USD5.65 billion equivalent 6.00% AT1 preference shares in three currencies

The Industrial and Commercial Bank of China Ltd. (ICBC), China’s largest lender, issued USD5.65 billion equivalent in aggregate of Basel III-compliant Additional Tier 1 preference shares. Allen & Overy advised ICBC International as Sole Global Coordinator and ICBC International, Goldman Sachs, UBS and Bank of America Merrill Lynch as joint lead managers and joint bookrunners on ICBC’s debut offshore AT1 preference share offering.

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