Equity capital markets

Author: | Published: 1 Dec 2005

China Construction Bank became the first of the big four state-owned Chinese banks to successfully list overseas. Besides being the largest ever in Hong Kong, the $8 billion initial public offering (IPO) was at the time the largest in the world for four years. Herbert Smith acted for the issuer on Hong Kong law and Skadden Arps Slate Meagher & Flom acted as US counsel. Freshfields Bruckhaus Deringer, led by China securities head Teresa Ko, advised joint bookrunners Morgan Stanley, China International Capital Corporation (CICC) and CSFB as well as joint sponsors CICC, Morgan Stanley and CCB International Capital. The joint sponsors and underwriters were also advised by Davis Polk Wardwell on US law and Haiwen & Partners on PRC law. Commerce & Finance Law Offices provided PRC legal advice to the issuer.

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