Freshfields advises on Weihai City Commercial Bank’s listing on HKSE
Freshfields Bruckhaus Deringer (‘Freshfields’) has provided Hong Kong and US law advice to the joint sponsors and the underwriters of the listing of H shares in Weihai City Commercial Bank Co., Ltd. (‘Weihai City Commercial Bank’) on the Hong Kong Stock Exchange (‘HKSE’). The proceeds of the transaction were approximately US$365.3m (before the Over-allotment Option). Trading in the shares commenced today (12 October 2020).
Weihai City Commercial Bank is the only city commercial bank with outlets covering all prefecture-level cities in Shandong province. It focuses on high-end corporate banking customers in managing its corporate banking business, leveraging support from its shareholders and the government, as well as its extensive business network.
The Freshfields team advising on the transaction was led by partners Calvin Lai and Jason Xu.
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