Clifford Chance advises on Dongguan Rural Commercial Bank's US$1.2 billion Hong Kong IPO

Clifford Chance advises on Dongguan Rural Commercial Bank's US$1.2 billion Hong Kong IPO

Leading international law firm Clifford Chance has advised the joint sponsors China Merchants Securities, CMB International Capital, ABCI Capital, and ICBC International Capital on Dongguan Rural Commercial Bank's US$1.2 billion (HK$9.1 billion) initial public offering (IPO) on the mainboard of Hong Kong Stock Exchange. Based in Guangdong, Dongguan Rural Commercial Bank is the fifth largest rural commercial bank in China in terms of total assets as of 31 December 2020.

The deal was jointly led by partners Fang Liu and Xiang Tianning, supported by partner Virginia Lee, senior associates Janet Tang and Bu Qingqing as well as associates Yang Tao and Mao Meng.

Partner Fang Liu commented, "We are honoured to work on the Dongguan Rural Commercial Bank's IPO, which once again demonstrates our depth of expertise in the capital markets of Chinese financial institutions seeking to go public and our commitment to serving leading companies out of the Greater Bay Area."