Paul Hastings and Commerce & Finance Law Offices acted on behalf of China Bohai Bank in its US$1.78 billion global offering and listing of its H shares on the main board of the Hong Kong Stock Exchange. With shares priced at HK$4.80, it is Hong Kong’s largest IPO so far this year.
CCB International Capital, Haitong International Capital, ABCI Capital and CLSA Capital Markets acted as the joint sponsors for the listing, represented by Clifford Chance and Haiwen & Partners.
Established in 2005 in Tianjin, Bohai Bank is the youngest nationwide joint-stock commercial bank in China. It was the first PRC bank to be publicly listed in 2020, and the deal is the biggest listing by a Chinese bank on the Hong Kong bourse in the past five years.
Paul Hastings’ team on the transaction was led by Raymond Li, global partner and chair of Greater China, corporate partners Neil Torpey, Vincent Wang and Fan Chaobo, with support from associate Kelvin Chu, legal managers Penny Chen, Du Jing and Nicole Xu, and paralegal Jennifer Yao.
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