Menu

Bank of Gansu Debuts in US$761 Million HKIPO

Hong Kong – Paul Hastings, a leading global law firm, announced today that the firm advised CMB International Capital Limited, CCB International Capital Limited, Huatai Financial Holdings (Hong Kong) Limited, Guotai Junan Capital Limited and BOCI Asia Limited as the joint sponsors in Bank of Gansu’s US$761 million global offering and listing of its H shares on the Main Board of the Hong Kong Stock Exchange. Bank of Gansu was founded in November 2011 and is the only provincial city commercial bank in Gansu province, China.

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 – invested a total of US$400 million in the offering.

A market leader in advising on key Chinese city commercial banks’ H-share listings in Hong Kong, Paul Hastings has advised on the Hong Kong IPOs of three Chinese city commercial banks since 2016.

The Paul Hastings team was led by Raymond Li, partner and Chair of Greater China, and partners Zhaoyu Ren and Bonnie Yung, with support from of counsel Vincent Wang, and associates Jason Wang, Erika Zhao and Qianyu Hu.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.