By King & Wood Mallesons
On 19 May 2017, BOCOM International Holdings Company Limited (BOCOM International, stock code: 3329), advised by King & Wood Mallesons (KWM), was successfully listed on the main board of the Stock Exchange of Hong Kong Limited (SEHK). The basic issuance size was approximately 667 million shares, priced at HK$2.68 per share, raising approximately HK$1.68 billion. The transaction involved Bank of Communications, an A + H shares listed company, spinning off its subsidiary BOCOM International to be listed on SEHK, making BOCOM International the first listed securities firm with a PRC bank background in Hong Kong.
Founded in 1998, BOCOM International is an integrated platform of Bank of Communications for securities and related financial services in Hong Kong. As one of the earliest licensed securities firms with a PRC background in Hong Kong, BOCOM International has experienced many economic and industry cycles as well as regulatory reforms, and has developed into one of the largest securities firms specializing in securities brokerage, corporate finance, underwriting and asset management in Hong Kong.
In this project, KWM acted as PRC counsel for the issuer, providing all round legal services relating to all aspects of the A + H shares listed company spinning off its subsidiary for the overseas listing. During the course, the quality and timely feedbacks of the KWM team were fully acknowledged and highly praised by Bank of Communications, BOCOM International and other advisors.The project was led by partners Wang Jianxue and Liu Dongya.