China Zhongwang closes year's largest IPO

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    Aluminum-products maker China Zhongwang Holdings has tested investor confidence in the IPO market by completing the year's largest IPO globally. Set…

    Aluminum-products maker China Zhongwang Holdings has tested investor confidence in the IPO market by completing the year's largest IPO globally. Set to raise US$1.2 billion, with another US$180 million expected if the greenshoe option is exercised, Zhongwang's IPO in Hong Kong is nearly twice the size of Mead Johnson Nutrition's in February.

    Joint global coordinators and joint bookrunners UBS, JP Morgan, and CITIC Securities Corporate Finance (HK) instructed a Morrison & Foerster team – led by Ven Tan, Paul Boltz and Xiaohu Ma – for Hong Kong and US law advice. Sigi Fu led the Jingtian & Gongcheng team providing PRC law advice.

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