Latham & Watkins Advises GF Securities on Ground-breaking Hong Kong IPO

Hong Kong team advises on what will be one of Hong Kong’s biggest issuances of the year.

April 10, 2015

With today’s Hong Kong listing of GF Securities – China’s fourth largest brokerage by assets – Latham & Watkins has advised on all three of 2015’s largest Hong Kong IPOs to date. 

GF Securities’ market debut is expected to be the biggest listing in the territory so far this year. Priced at HK$18.85 per H share, the top of its indicative price range, the sale of 1.48 billion new shares is expected to raise US$3.6 billion. 

Cathy Yeung, Chair of Latham’s Hong Kong Corporate Department and Greater China Practice, commented: “We are delighted to have advised GF Securities on its Hong Kong IPO and to have helped deliver what will be one of Asia Pacific’s biggest listings this year.” 

Michael Sturrock, Global Vice-Chair of Latham’s Corporate Department, added: “GF Securities’ listing demonstrates Latham’s unique experience in the securities industry and highlights that we are time and again the law firm of choice for businesses listing in Hong Kong. Our combination of global experience and local expertise is highly sought after by leading Chinese and international businesses.” 

The Latham & Watkins team was led by Hong Kong partners Cathy Yeung, Eugene Lee and William Woo, with associates Wei Wei, Alice Tsui, Yingshi Pan and foreign legal consultants George Zheng and Gloria Chen. 

GF Securities’ issuance follows Fuyao Glass’ IPO on 31 March and HKBN’s IPO on 12 March, each of which had previously been Hong Kong’s largest IPO of 2015. Latham advised Fuyao Glass on its listing, and the underwriters on HKBN’s IPO.

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