Kirkland & Ellis represented 22 investment banks in the US$2.3 billion global offering and listing on the Hong Kong Stock Exchange of China Huarong Asset Management Co., Ltd., the largest financial asset management company in China. The Kirkland team advised on both Hong Kong and U.S. law aspects of the IPO. Kirkland clients on the transaction included HSBC, Goldman Sachs, CCB International, Credit Suisse, ICBC International, China International Capital Corporation, Citi and Merrill Lynch as joint global coordinators and joint bookrunners, as well as Huarong International, BOCI Asia, CMB International, GF Securities, China Merchants Securities, DBS Asia, BOCOM International, ABCI Capital, Deutsche Bank, Jefferies, Nomura, Morgan Stanley, CLSA and China Securities (International) as the other joint bookrunners.
The IPO was closed and trading of the company’s H shares on the Hong Kong Stock Exchange commenced on October 30, 2015, under stock code 2799. If the over-allotment option is fully exercised, the total value of the transaction will be US$2.65 billion.
Corporate partners Dominic Tsun, David Zhang,Li-Chien Wong, Benjamin Su and Peng Qi led the Kirkland team, which also included: corporate partners Shawn Tai and Steve Lin; corporate associates Susan Wang and Joy Zhang; foreign legal consultant Mengying Li and legal intern Quanzhou Chen; international trade partner Joanna Ritcey-Donohue and associate Diego Alfonso Ortega; litigation partner Satnam Tumani and associate Jonathan Newman; investment management partners Scott Moehrke and Lisa Cawley and associates Prem Mohan and Ryan Swan; tax partner Angela Russo and associate Vivek Ratnam; banking and financial institution partner Julie Kunetka; and employee benefits partner Laura Bader. The team was also assisted by corporate associate Arthur Tso, foreign legal consultants Chaoyi Feng, Bo Liu,Serena Xue and Yuting Zheng, and legal intern Daoping Song.