Shandong International Trust’s $378.3 Million Hong Kong IPO


Simpson Thacher represented Shandong International Trust Co., Ltd. (“Shandong International Trust”) in connection with its initial public offering in Hong Kong and Regulation S offering of 647,075,000 H shares (prior to the exercise of the overallotment option), which raised approximately HK$2.95 billion (US$378.3 million) in gross proceeds.

The H shares of Shandong International Trust are listed on the Hong Kong Stock Exchange. CCB International, BOCOM International and Haitong acted as joint sponsors. CCB International, Haitong, BOCOM International and CMB International acted as joint global coordinators.

Shandong International Trust is a comprehensive financial and wealth management service provider in China, utilizing its trust products to provide diversified financing and investment services. As a trust company licensed by the China Banking Regulatory Commission, Shandong International Trust is permitted to conduct business across multiple financial markets, including direct financing for the real economy, capital markets and money markets in China. Shandong International Trust is the first trust company in China to launch an initial public offering in Hong Kong.

The Simpson Thacher team for the transaction included Christopher Wong (Picture), Daniel Fertig, Ethle Tang, Yi Gao and Tao Li (Capital Markets).

Involved fees earner: Christopher Wong – Simpson Thacher & Bartlett; Daniel Fertig – Simpson Thacher & Bartlett; Ethle Tang – Simpson Thacher & Bartlett; Yi Gao – Simpson Thacher & Bartlett; Tao Li – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Shandong International Trust Co., Ltd.;

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Author: Michael Patrini