Baker McKenzie has acted for CLSA Limited, AMTD Global Markets Limited, China International Capital Corporation Hong Kong Securities Limited (CICC) and China Merchants Securities (HK) Co., Ltd. as Underwriters in connection with Bank of Qingdao Co., Ltd.'s H share rights issue.
Bank of Qingdao is the first main-board listed bank in Shandong Province, and the 11th bank in China with A+H dual listing (Stock Code: 002948.SZ and 3866.HK respectively). The bank mainly offers services and products such as corporate and personal deposits, loans, payment and settlement to its customers. Its development is driven by three major business segments that include retail banking, corporate banking and financial markets.
The aggregate net proceeds raised under the A+H share Rights Issue amounted to approximately HK$5.084 billion (approximately RMB4.156 billion). Proceeds from the rights issue will be used to replenish the core tier-one capital, improve the capital adequacy ratio of the bank, support the sustainable and healthy development of future business and enhance the capital strength and competitiveness of the bank.
The Baker McKenzie team was led by Partner Wang Hang (Beijing) and was supported by a cross-office team consisting of: Special Counsel Brian Wong (Hong Kong), Senior Counsel Stella Hu and Counsel Yolanda Zheng of FenXun Partners, and Associates Leonard Luk (Hong Kong) and Hu Xiaoyang (Shanghai).
Commenting on the deal, Wang Hang said, "We are pleased to have assisted the Underwriters on this important transaction. With the Hong Kong capital markets likely to remain buoyant, we look forward to continuing to bring our strong capital markets capabilities to the table and support our clients with their future transactional needs."
Baker McKenzie is one of the leading firms for complex transactions, providing strategic advice on deals involving the world’s leading financial institutions and multinational companies. The Firm regularly advises target companies, offerers, selling shareholders and financial advisers on the acquisition and disposal of companies listed on stock exchanges in key major financial centers, and issuers on their proposed listing and fundraising activities in different jurisdictions. With many of its lawyers enjoying established working relationships with local regulators in Hong Kong and other key markets, the Firm is able to guide clients through all stages of the process, providing valuable insight on regulatory developments that could impact the value and feasibility of cross-border transactions, as well as on ongoing compliance issues. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades.
Bank of Qingdao is the first main-board listed bank in Shandong Province, and the 11th bank in China with A+H dual listing (Stock Code: 002948.SZ and 3866.HK respectively). The bank mainly offers services and products such as corporate and personal deposits, loans, payment and settlement to its customers. Its development is driven by three major business segments that include retail banking, corporate banking and financial markets.
The aggregate net proceeds raised under the A+H share Rights Issue amounted to approximately HK$5.084 billion (approximately RMB4.156 billion). Proceeds from the rights issue will be used to replenish the core tier-one capital, improve the capital adequacy ratio of the bank, support the sustainable and healthy development of future business and enhance the capital strength and competitiveness of the bank.
The Baker McKenzie team was led by Partner Wang Hang (Beijing) and was supported by a cross-office team consisting of: Special Counsel Brian Wong (Hong Kong), Senior Counsel Stella Hu and Counsel Yolanda Zheng of FenXun Partners, and Associates Leonard Luk (Hong Kong) and Hu Xiaoyang (Shanghai).
Commenting on the deal, Wang Hang said, "We are pleased to have assisted the Underwriters on this important transaction. With the Hong Kong capital markets likely to remain buoyant, we look forward to continuing to bring our strong capital markets capabilities to the table and support our clients with their future transactional needs."
Baker McKenzie is one of the leading firms for complex transactions, providing strategic advice on deals involving the world’s leading financial institutions and multinational companies. The Firm regularly advises target companies, offerers, selling shareholders and financial advisers on the acquisition and disposal of companies listed on stock exchanges in key major financial centers, and issuers on their proposed listing and fundraising activities in different jurisdictions. With many of its lawyers enjoying established working relationships with local regulators in Hong Kong and other key markets, the Firm is able to guide clients through all stages of the process, providing valuable insight on regulatory developments that could impact the value and feasibility of cross-border transactions, as well as on ongoing compliance issues. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades.
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