Paul Hastings, a leading global law firm, announced today that it represented Haitong International Securities Group Limited (“Haitong International”), a subsidiary of Haitong Securities Co., Ltd., which is the second largest securities firm in China by total assets, in its HK$1.17 billion rights issue. One rights share for every two existing shares was offered at HK$2.55 per rights share.
Haitong International Holdings Limited and The Hongkong and Shanghai Banking Corporation Limited (“HSBC”) acted as the joint underwriters and Haitong International Securities Company Limited and HSBC acted as the joint global coordinators and joint bookrunners.
In 2012, Paul Hastings advised the underwriters on the US$1.68 billion Hong Kong initial public offering and listing of the H shares of Haitong Securities Co., Ltd. on the Hong Kong Stock Exchange. This was one of the largest IPOs in Hong Kong last year and the transaction was awarded “Equity Deal of the Year 2012” by China Law & Practice.
The Paul Hastings team was led by Raymond Li, partner and Chair of Greater China, and partner Catherine Tsang, with support from associates Eric Chow, Catherine Chu and Cliff Lui.
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