Freshfields Bruckhaus Deringer has advised China Tower Corporation Limited, the worlds’ largest telecommunications tower infrastructure service provider, on the proposed global offering and listing of its H-shares on the Main Board of the Hong Kong Stock Exchange.
The US$6.9bn transaction (before any exercise of the Over-allotment Option) is the largest IPO to have taken place worldwide since October 2016.
According to independent industry research, China Tower holds a market share of 97.3 per cent of the mainland China market by revenue. Its network of almost 1.9m sites span 31 provinces, municipalities and autonomous regions in mainland China, covering all cities and extensive rural areas. It intends to use the proceeds of the IPO for new site construction and augmentation; replacement and improvement of ancillary facilities; repaying loans; and general corporate purposes.
The Freshfields team advising China Tower was led by partner and China chairman Teresa Ko, partner and head of China equity capital markets Richard Wang (picture) and partners Jason Xu and Yan Chen.
Involved fees earner: Teresa Ko – Freshfields Bruckhaus Deringer LLP; Richard Wang – Freshfields Bruckhaus Deringer LLP; Jason Xu – Freshfields Bruckhaus Deringer LLP; Yan Chen – Freshfields Bruckhaus Deringer LLP;
Law Firms: Freshfields Bruckhaus Deringer LLP;
Clients: China Tower Corporation Limited;