CRCC in 2008’s largest IPO to date

March 17, 2008 | BY

clpstaff

China Railway Construction Corporation raised HK$18.3 billion [before exercise of the over-allotment option] H-share offering, which started trading on the Hong Kong Exchange in March.


China Railway Construction Corporation raised HK$18.3 billion [before exercise of the over-allotment option] H-share offering, which started trading on the Hong Kong Exchange in March. The combined global and A-share offerings of CRCC makes it the largest IPO of 2008 to date, raising more than US$5.4 billion. Citigroup Global Markets Asia, Citic Securities Corporate Finance (HK) and Macquarie Capital Securities acted as the joint global coordinators, joint bookrunners, joint lead managers and joint sponsors of the global offering. 

Baker & McKenzie securities team in Beijing and Hong Kong advised China Railway Construction Corporation as Hong Kong and U counsel, while Beijing Deheng Law Office advised on PRC law. Freshfields Bruckhaus Deringer advised on Hong Kong and US laws to the underwriters, while Jingtian & Gongcheng advised on PRC law to the underwriters.

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