Bank of Gansu Co., Ltd.’s HK$6 billion initial public offering on the Hong Kong Stock Exchange


Latham & Watkins has advised Bank of Gansu Co., Ltd. on its approximate HK$6 billion initial public offering on the Main Board of The Stock Exchange of Hong Kong Limited.

The offering consists of 2,212,000,000 H shares (subject to the over-allotment option) sold at an offer price of HK$2.69 per share. Four cornerstone investors — Hong Kong Dasheng Investment Holdings Company Limited, Huaxun International Group Limited, China Create Capital Limited, and Huarong Rongde (Hong Kong) Investment Management Company Limited — have invested a total of US$400 million in the offering. Bank of Gansu intends to use the proceeds to strengthen its capital base to support the sustainable growth of its business.

CMB International Capital Limited, CCB International Capital Limited, Huatai Financial Holdings (Hong Kong) Limited, Guotai Junan Capital Limited, and BOCI Asia Limited acted as ?joint sponsors for the offering.

The Latham & Watkins team was led by Hong Kong partners Cathy Yeung (picture) and Allen Wang, with Hong Kong counsel Terris Tang and associates Wei Wei and George Zheng.

Involved fees earner: Cathy Yeung – Latham & Watkins; Allen Wang – Latham & Watkins; Terris Tang – Latham & Watkins; Wei Wei – Latham & Watkins; George Zheng – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: Bank of Gansu Co., Ltd.;

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Author: Michael Patrini