Clifford Chance and Latham & Watkins have scored key advisory roles in GF Securities' Hong Kong IPO making it the the largest IPO so far in Asia this year.
Shenzhen-listed GF Securities, China's No. 4 brokerage by assets, raised $3.6 billion through its Hong Kong offer last week, pricing the deal at the top of its marketing range.
Led by Partners Tim Wang, Cherry Chan and Fang Liu, Clifford Chance served as legal advisor to the joint sponsors and underwriters on Hong Kong and U.S law. Beijing King & Wood Mallesons advised on PRC law.
Latham & Watkins and Jia Yuan Law Offices acted for GF Securities. Latham advised on Hong Kong and U.S law and Jia Yuan served as Chinese counsel to the company.
Shares of GF Securites soared by 36 percent on its Hong Kong debut, helped by a boom in margin lending for mainland brokers and rosy prospects for a scheme linking the city's bourse with mainland exchanges.
Goldman Sachs Group Inc. and GF Capital (Hong Kong) Ltd. are the lead banks for the offering.