Davis Polk advised Haitong UniTrust International Leasing Co., Ltd. in connection with its spinoff from Haitong Securities Co., Ltd. by way of an initial public offering.
The gross proceeds from the global offering amounted to approximately HK$2.32 billion (US$297.74 million) prior to any exercise of the over-allotment option.
Founded in 2004, Haitong UniTrust is a large and fast-growing financial leasing company in China that offers financial leasing, operating leasing, factoring, entrusted loans and other financial services to customers across a wide range of industries. Haitong UniTrust ranked third among foreign-funded financial leasing companies under MOFCOM’s regulations in terms of total revenue in 2017 and total assets as of December 31, 2017.
The Davis Polk corporate team included partners Bonnie Y. Chan (Picture) and Li He and associates Lillian Lian and Lydia Leung. Counsel Alon Gurfinkel and associates Veronica Davis and Omer Harel provided tax advice. Counsel Sarah E. Kim and associate J. Taylor Arabian provided 1940 Act advice. Counsel Jeanine P. McGuinness provided regulatory advice.
Involved fees earner: Taylor Arabian – Davis Polk & Wardwell; Bonnie Chan – Davis Polk & Wardwell; Veronica Davis – Davis Polk & Wardwell; Alon Gurfinkel – Davis Polk & Wardwell; Omer Harel – Davis Polk & Wardwell; Li He – Davis Polk & Wardwell; Sarah Kim – Davis Polk & Wardwell; Lydia Leung – Davis Polk & Wardwell; Lillian Lian – Davis Polk & Wardwell; Jeanine McGuinness – Davis Polk & Wardwell;
Law Firms: Davis Polk & Wardwell;
Clients: Haitong UniTrust International Leasing;