The Legal 500

Commerce & Finance Law Office acts on listings in Hong Kong by PRC incorporated companies, Hong Kong GEM offerings, overseas companies listed in Hong Kong, and US listings. Additionally, the practice is regularly called upon to advise on A and B share offerings and listings for companies incorporated in the PRC, as well as bonds and securities investment funds. The practice represented Primavera Capital Management in its $280m bid for Shanghai chemicals company, Chemspec International. Branch offices are run from Shanghai and Shenzhen. The ‘formidable expert’ Liu Gang is recommended.

Haiwen & Partners advises international and domestic investment banking firms, as well as acting for high-profile Chinese issuers in overseas and domestic securities offering transactions, including IPOs, follow-on equity offerings, and the issuance of debt securities. Highlights included acting as Chinese legal counsel for the first few domestic Chinese A share offerings, the first H share offering and listing on the Hong Kong Stock Exchange by a Chinese issuer, the first ADR offering by a Chinese issuer, and the first RMB-denominated Panda Bond offering by international financial development institutions. Leading individual He Fei is ‘good to have on your side’.

Jingtian & Gongcheng acted as Goodbaby’s PRC counsel in relation to its IPO, and advised the underwriter on PRC law in relation to Huaneng Renewables Corporation IPO for a Hong Kong Stock Exchange main board listing. Wei Bai is recommended.

Jun He Law Offices has advised issuers and underwriters on numerous IPOs and refinancing projects both inside and outside of China. Representative work has included assisting clients in the restructurings of state-owned enterprises and private companies, domestic and overseas private placements, sale of material assets of domestic and foreign-listed companies and other securities-related transactions. Recent experience includes acting in connection with Stanley Fertilizer’s IPO of A shares. Xiao Wei is recommended.

King & Wood’s Jing Gang led the team advising as PRC counsel to the underwriters in DK Solar’s issuance of American depositary shares on the NYSE. The practice also served as the Bank of China’s legal advisor in relation to share placements and acted in connection with Mingyang’s public offering and listing, making it China’s first wind power machinery company to list in the US. Another highlight involved Bank of Communications’ successfully issued A and H shares on the Shanghai and Hong Kong Stock Exchanges, marking the largest-scale A+H share placement by a state-controlled commercial bank. Yang Xiaolei, Stanley Cha, Zhang Yongliang and Wang Lixin are key figures.

Zhong Lun Law Firm advises issuers and underwriters on a broad range of domestic and international private and public offerings. Highlights included acting for Xiamen Sunrise Wheel Group in connection with its SME Board IPO and listing, and assisting as PRC counsel for UA Finance (BVI), as arranger and dealer, on a public note issuance in Hong Kong.

Global Law Office recently opened its Shenzhen office, engaging five senior IPO and M&A lawyers. Jinrong Liu advised O-Net Communications (Group) and Yuanyi Group Holdings on their Hong Kong IPOs. The firm advised China Health Labs & Diagnostics in the listing of its shares on Toronto Stock Exchange. Also of interest, Bank of America Merrill Lynch, Barclays Capital, and were assisted on the listing of Next Generation TV on New York Stock Exchange. George Niu advised China International Capital Corporation, being the sponsor and lead underwriter to the IPO of a leading PRC city planning and designing company, and its listing on the Hong Kong Stock Exchange.

Grandall Law Firm has acted for more than 100 PRC enterprises on raising capital by stock and bond issuance and/or through restructuring. In addition, with the team’s assistance, more than half of these firms have raised money by successfully listing abroad on foreign exchanges including NYSE, NASDAQ, AIM, HKEX, SE, Japan Osaka Securities Exchange and the Kuala Lumpur Stock Exchange. In the first quarter of 2011 alone, the practice acted for issuers on global equity and equity-related matters in relation to 18 offerings with a total value of $2.3bn.

Guantao Law Firm acted in connection with BBMG’s IPO of A shares and merger of Hebei Taihang Cement, and assisted the underwriters in the issuance of RMB23bn convertible bonds by China Petroleum & Chemical Corporation. Sun Dongying and Sun Dongfeng head the team.

DeHeng Law Office acted on an award-winning equity market deal involving the listing of Agricultural Bank of China. Li Wang is the chief global managing partner and founder of the firm. Wang has frequently advised on bond issuings and other securities.

Han Kun Law Offices is noted for its work as Chinese counsel to issuers in the IPOs of Chinese companies on major US exchanges. The team advised iSoftStone, a China-based outsourced technology services provider, on its New York Stock Exchange IPO, and represented Hopson Development Holdings in relation to the issuance of $300m of its senior notes.

Run Ming Law Office’s advice focuses predominantly on domestic and overseas private placements, public listings and initial offerings, as well as the M&A and restructuring side required for pre-IPO companies. The principal practitioners are executive partner Yadong Wang, partner Xin Lv and consultant Yingying Gu.

‘Fast growing firm’ Zhong Yin Law Firm acts on the issuance and listing of domestic and overseas shares for Chinese enterprises. It also advises on the issuance and listing of domestic and overseas shares of foreign-invested enterprises, the separate listing for enterprises affiliated to domestic listed companies, the issuance and listing of bonds, as well as private placements, asset securitisations and equity transfers.

The ‘large team’ at Allbright Law Offices is widely recognised as a market leader in capital markets, acting for both issuers and underwriters. The securities practice covers stock and bond issuance, and acts for Chinese companies on IPOs. The firm is consistently ranked as a leading advisor on small and medium cap boards and Growth Enterprise Market (GEM) listings. It has advised a number of state-owned enterprises and private companies in capital-raising activities on other exchanges such as the Hong Kong Stock Exchange, NASDAQ Global, Euronet, ASX, AIM and SGX. These are typically through IPOs, reverse public offerings, reverse merger transactions, follow-on and secondary offerings as well as private investments in public equities (PIPEs) and alternative public offerings (APOs). Highlights included advising on the first Paris listing of a Chinese health food producer at Euronext Paris, and acting for China Commercial Aircraft on a RMB3bn bond issuance. It is also strong in fund formation and in advising hedge funds and other international funds on Qualified Foreign Institutional Investors (QFII) issues. Recommended practitioners include Steve Zhu, Guoquan Shen and Lawrence Zhu.

‘One of the leaders in the market’, Fangda Partners has a strong presence in both debt and equity. Its vast experience includes stock exchange listings and flotations, IPOs, bonds and debenture issues, the establishment and listing of mutual funds, and advising on all aspects of securities laws. With 13 partners across its three China offices specialising in capital markets work, it has been involved in the listing of more than 100 companies on the stock exchanges in Shanghai, Shenzhen, Hong Kong, Singapore, London and New York. It is regularly instructed to serve as counsel to Chinese companies and financial institutions in debt offerings in the Eurobond market, and has recently been involved in convertible bonds and securitisation transactions in China. Senior partner Jonathan Zhou is a widely recognised expert in the field, with a track record that includes major transactions such as the IPOs of Alibaba, Fosun International, Baosteel, Shanghai Industrial Investment, Forte Land, Southeast Electric Power and Shanghai Airlines.

Llinks Law Offices represents issuers and underwriters in IPOs, follow-on offerings, investment-grade, high-yield and convertible debt offerings. It is accustomed to handling every stage of clients’ corporate development, from initial capital raising to additional equity and debt securities. The firm has an excellent track record which includes representing Sinochem in its issue of separately tradeable bonds and warrants, one of the first such transactions on the China market. A recent highlight has been acting for Shanghai Media Group in the restructuring of SVA Information, involving the takeover of the listed companies, sale of assets and the restructuring of the listed companies. The team, led by Christophe Han, has strong relationships with various government agencies including the China Securities Regulatory Commission and the Ministry of Commerce.

Boss & Young Attorneys at Law provides a ‘very responsive service’ to clients, including Fortune 500 companies, leading Asian banks, US and global financial institutions and hedge funds, and Chinese companies. Hubert Tse is ‘well connected with regulators’, and is widely renowned for his expertise in China private equity, Qualified Foreign Institutional Investors (QFII), Qualified Domestic Institutional Investors (QDII) and investment funds. The practice’s broad remit also includes secondary offerings, stock repurchases and transfers, shell listings, issuance of bonds, convertible instruments, warrants and redeemable preferred shares. It has advised on a number of listings of many companies in Chinese and overseas stock exchanges, and recently has been advising two leading Asian-listed financial institutions on a planned IPO on the Shanghai International Board (SIB).

Chen & Co. Law Firm’s roots lie in advising foreign and domestic clients with PRC capital markets issues. With proven expertise in equity, debt and derivative offerings, corporate restructuring, strategic equity investment, regulatory matters and legal due diligence, the firm is well-placed to advise issuers and underwriters, alongside a range of other financial institutions. In 2010, it was instructed as PRC counsel to JinkoSolar in relation to its IPO and listing of American depositary shares (ADS) on the New York Stock Exchange. Additionally, it acted as lead counsel to Beijing Venustech Inc (BVI) on its initial A-share offering and listing on the SME Board of the Shenzen Stock Exchange; the initial offering raised RMB625m. Frank Chen is recommended.

Jun He Law Offices regularly advises issuers and underwriters on IPOs and refinancing projects both inside and outside of China. With six offices in China including a strong team in Beijing, the firm has considerable strength and is regularly active in the offshore debt market, primarily Hong Kong and Singapore. Expertise includes restructuring, domestic and overseas private placements, the sale of assets for domestic and foreign-listed companies and other securities-related transactions. The firm recently acted as PRC counsel to the underwriters in the landmark IPO for Hutchinson Ports’ Singapore listing on SGX, which raised $5.5bn and is the biggest ranking IPO in Singapore to date. Adam Li and Xudong Tao led on the deal. Regular clients include Goldman Sachs, Morgan Stanley and UBS.

King & Wood’s capital markets expertise includes securities issuance and listings, financing for private companies, funds, mergers and acquisitions of listed companies, securities and derivatives and wealth management. In 2010, the firm assisted the insurance arm of American International Group (AIA) in relation to its listing on the Hong Kong Stock Exchange, advising it on PRC law; the IPO raised HK$140bn. Stanley Cha led the deal in co-ordination with the firm’s strong Beijing-based practice.

At Duan & Duan Law Firm, managing partner Charles Duan is noted for capital markets advice to both national and international clients. The firm’s remit covers securities issuance and listings, acquisitions and restructuring of listed companies, funding and project financing of listed and non-listed companies, banking and credits, financial leasing, funds and its operation, securitisations and financial derivatives.

Global Law Office’s services include international and domestic IPO and listing, offering and listing of fixed-income products, enterprise bonds, corporate bonds and convertible bonds, as well as securities investments funds. It recently acted for China Shengda Packaging Group on its IPO at NASDAQ, and is representing Xianghe Dairy Products on its Hong Kong IPO. It is acting for Zhejiang Fulida Co. and 10 other companies in relation to a share IPO in PRC. Yu Zhang and George Wang are recommended.

Grandall Law Firm is experienced in company listing and stock issuance, and has recently seen an increase in IPOs. Its advice extends to overseas listings, and it frequently advises in relation to convertible bonds and shares. It also represents issuers in litigation and advises on corporate governance, and often advises on compliance with US securities law. Ni Junji and Charles Guan Jianjun are recommended.

Jade & Fountain PRC Lawyers’ successes include advising Shanda Entertainment as PRC counsel on its IPO on the NASDAQ stock exchange, which was valued at $1.04bn. It also acted for HTC on its private equity investment in NetQin, and its follow-up IPO on NASDAQ.

Jin Mao Law Firm has forged strong relationships with regulatory authorities including CSRC and the Ministry of Commerce, and thus has assisted a number of overseas and domestic companies with listings in US, Hong Kong and Singapore Stock Exchanges. It has proven adept in corporate reorganisation and restructuring, as well as issuing shares, convertible bonds, certificates of deposits, alongside due diligence work and providing legal opinion.