Freshfields Bruckhaus Deringer, Hong Kong firm Li & Partners and King & Wood Mallesons are advising China Everbright Bank Co. Ltd. on its upcoming $2.8 billion initial public offering in Hong Kong.
The bank, a division of state-run financial company China Everbright Group, plans to sell 5.1 billion shares at a maximum price of $0.55 apiece. The final price will be determined on Dec. 13, with shares expected to begin trading a week later.
China Everbright Bank plans to use the proceeds to boost its capital base and further grow its business, according to a newly released prospectus.
Freshfields Hong Kong partners Richard Wang and Calvin Lai are advising the issuer on U.S. and Hong Kong law.
Li & Partners partner Kelvin Chan is also advising China Everbright Bank on Hong Kong law, while King & Wood Mallesons is serving as Chinese counsel.
Davis Polk & Wardwell Hong Kong partners Antony Dapiran and Li He are representing joint global coordinators China International Capital Corp., UBS AG, Morgan Stanley Asia Ltd. and China Everbright Securities (HK) Ltd.
Jingtian & Gongcheng Beijing partner Gerry Peng is advising the underwriters on Chinese law.