Zhongyuan Bank Completes US$1.04 Billion Hong Kong IPO

July 19, 2017

Hong Kong – Paul Hastings, a leading global law firm, announced today that it represented Zhongyuan Bank, the largest city commercial bank in Henan province, China, as the issuer in its US$1.04 billion global offering and listing of H-Shares on the Main Board of The Stock Exchange of Hong Kong Limited. CITIC CLSA, JP Morgan, CCB International and CMB International acted as the joint sponsors of the share offer.

Zhongyuan Bank intends to use the net proceeds from the offering to strengthen its capital base to support the ongoing growth of its business.

Paul Hastings has over the past few years forged close relationships with a number of Chinese banks and is active in advising on their capital markets transactions. In 2016, Paul Hastings advised Bank of Tianjin, the only city commercial bank headquartered in Tianjin, in its US$948 million global offering and IPO on the Main Board of the Hong Kong Stock Exchange. BOCI Asia Limited, ABCI Capital International and CCB International Capital Limited acted as joint sponsors on the listing.

The Paul Hastings team was led by Raymond Li, partner and Chair of Greater China, and Capital Markets partners Zhaoyu Ren, Nan Li and Bonnie Yung, with support from of counsel Vincent Wang and associates Jason Wang, Liming Xu, Eric Wong and Crystal Zhang.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.