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 Italian government completed the €1 billion ($1.2
billion) rights offering of Alitalia, Italy's stock...