Firm Advises the Underwriters on Shenwan Hongyuan Group’s Hong Kong IPO

Latham advises on biggest IPO in Asia so far this year.

May 07, 2019

Latham & Watkins represented the underwriters in the initial public offering by Shenwan Hongyuan Group Co., Ltd. (“Shenwan Hongyuan Group”) of approximately HK$9.1 billion (US$1.16 billion) on the Main Board of The Stock Exchange of Hong Kong Limited. The IPO is Asia’s biggest listing so far this year.

The offering consists of 2,504,000,000 H shares (subject to the over-allotment option) sold at an offer price of HK$3.63 per H share. Shenwan Hongyuan Securities (H.K.) Limited, Goldman Sachs (Asia) L.L.C., ICBC International Securities Limited, and ABCI Securities Company Limited acted as joint sponsors for the offering.

As a leading Chinese securities firm, Shenwan Hongyuan Group is committed to providing diverse financial products and services to clients, and has established a longstanding leading position across multiple business lines in the PRC securities industry. Shenwan Hongyuan Group intends to use the raised capital to strengthen its leading position in the PRC securities industry and further develop its international business.

The Latham & Watkins team was led by Hong Kong partners Cathy Yeung and Terris Tang and Beijing partner Yilong Du, with Hong Kong and Beijing associates Chaobo Fan, Jun Lou, Ze Gong, and Fan Wang.

Cathy Yeung, Global Vice Chair of Latham & Watkins’ Capital Markets Practice and Chair of the firm’s Greater China Practice, commented: “We are proud to have delivered the largest Hong Kong IPO to date in 2019. This important milestone for Shenwan Hongyuan Group, one of China’s largest and oldest securities company, marks the latest chapter in the company’s exciting growth story. The transaction further demonstrates Latham’s stellar track record in the financial services industry as well as our position in the market to guide leading Chinese and international companies when they choose to tap the capital markets in Asia and around the world.”



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