Paul Hastings, a leading global law firm, announced today that it advised Haitong International, J.P. Morgan, Credit Suisse, Deutsche Bank, Citigroup, UBS, HSBC, Nomura, Standard Chartered, BOCOM International and other underwriters in Haitong Securities Co. Ltd.’s (“Haitong”) US$1.68 billion Hong Kong Initial Public Offering and listing of its H shares on the Hong Kong Stock Exchange. The transaction comprised a Hong Kong public offering and a Reg S/Rule 144A international offering. It also has a 15% over-allotment option which could increase the total deal size to as much as US$1.9 billion if exercised in full.
Haitong, established in 1988, is the second largest securities firm in China by total assets and is already listed on the Shanghai Stock Exchange. It is the second Chinese securities firm to list on the Hong Kong Stock Exchange.
The Paul Hastings team was led by Raymond Li, partner and Chair of Greater China, and capital markets partners Catherine Tsang and Steven Winegar who were supported by a strong team principally comprising John Baptist Chan, Eric Chow, Joy Chen and David Ting.
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