China Railway Group in dual listing
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clpstaff &clp articlesChina Railway Group, the largest construction company in Asia and the third largest construction contractor in the world, raised US$5.5 billion from a…
China Railway Group, the largest construction company in Asia and the third largest construction contractor in the world, raised US$5.5 billion from a dual listing in Shanghai and Hong Kong, making it the largest A- and H-share listing of 2007.
Dr. Wei Liu, Head of DLA Piper's Hong Kong capital markets group and a China IPO veteran lawyer who led the deal commented: “This is a landmark listing as it provides Chinese companies with the flexibility of listing in China first to satisfy the latest local requirements as well as strong investor demand and immediately conducting an IPO in Hong Kong to access larger pools of international capital.”
DLA Piper advised the joint sponsors and underwriters including BOCI Asia Limited, J.P. Morgan Securities Ltd., UBS AG and ABN AMRO Rothschild in the Hong Kong Listing. Linklaters advised China Railway Group Limited on Hong Kong and US law. Simpson Thacher & Bartlett LLP advised both joint sponsors on US law, while Kaiwen Law Firm advised on PRC law. Jiayuan Law Firm advised China Railway Group Limited on PRC law.
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