Clifford Chance is advising Shanghai-based brokerage firm Haitong Securities Co. Ltd. on a $1.7 billion initial public offering in Hong Kong.
Haitong Securities is already listed on the Shanghai Stock Exchange. Its Hong Kong offering, which has been approved by the China Securities Regulatory Commission, will make Haitong Securities the second standalone Chinese securities firm to list in Hong Kong. Beijing-based Citic Securities Co. Ltd., advised by Baker & McKenzie, Latham & Watkins and Jiayuan Law Firm, launched its $1.7 billion Hong Kong IPO in October.
