Clients say it clearly: "Haiwen & Partners acted as our Company's China counsel in different equity deals, in which our company was appointed as the sponsor and/or underwriter, and in through the work Haiwen has shown its comprehensive understanding and professional expertise of the China securities law and practices." Haiwen continues to bring a number of innovative capital markets deals to the market, working for top-flight international and domestic issuers and investment banking firms on IPOs, follow-on offerings, and debt securities....
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Clients say it clearly: "Haiwen & Partners acted as our Company's China counsel in different equity deals, in which our company was appointed as the sponsor and/or underwriter, and in through the work Haiwen has shown its comprehensive understanding and professional expertise of the China securities law and practices." Haiwen continues to bring a number of innovative capital markets deals to the market, working for top-flight international and domestic issuers and investment banking firms on IPOs, follow-on offerings, and debt securities.
One highlight of 2010 was Agricultural Bank of China's A+H share IPO, which listed simultaneously in Hong Kong and Shanghai last July. On its date of completion, the $22.1 billion float was the largest IPO in financial history. Haiwen represented H share underwriters CICC, Goldman Sachs, Morgan Stanley, Deutsche Bank, JPMorgan, Macquarie, and ABC international in the landmark IPO, and Partners He Fei, Liu Su and Wang Jianyong led in advising that deal. He Fei, Jiang Weibo, and Wang Jianyong also advised the underwriters for the Industrial and Commercial Bank of China's $6.8 billion A+H share offering.
Clients hold Wang's work in particular high regard: "Wang Jianyong, the lead partner in the team is a very impressive legal professional. He possesses outstanding expertise in the Chinese banking industry, and has abundant experiences of the legal practice in restructuring and listing of the Chinese banks"
Another heavy-hitting deal this past year was the Youku.com IPO and listing on the Nyse. Partners Liu Su and Glenn Su advised as Chinese counsel to the underwriters, while Simpson Thacher & Bartlett advised as international counsel. The $203 million deal made news as a bellwether for future Chinese technology and social networking companies looking to list in the US. On the debt side, The Haiwen team also advised BOC International in Hopewell Highway Infrastructure's Rmb1.38 billion ($213 million) corporate bond offering-the ever first offshore Rmb bonds offered in Hong Kong.
In addition to praise for individual lawyers, clients also praise the Haiwen Capital Markets team overall. "Haiwen keeps good relationship with us," says one, "as well as the issuers and the domestic or international institutions involved in the deals on which we together worked. Haiwen always provides timely and clear responses to our questions."
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In 2011, Haiwen & Partners advised China Petroleum & Chemical Corporation (Sinopec) on its issuance of Rmb23 billion ($3.6 billion) worth of convertible bonds whose proceeds will be used to fund the construction of gas pipelines....
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In 2011, Haiwen & Partners advised China Petroleum & Chemical Corporation (Sinopec) on its issuance of Rmb23 billion ($3.6 billion) worth of convertible bonds whose proceeds will be used to fund the construction of gas pipelines. The China Securities Regulatory Commission approved the sale and amounts of the bonds in 2010, and the project sponsor and one of the underwriters was Goldman Sachs Gao Hua Securities Company, while other underwriters include China International Capital, Citic Securities Company, UBS Securities Company, Credit Suisse Founder Securities and Guotai Junan Securities.
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In October 2010, partner Jiang Weibo led Haiwen's team in advising China Mobile on its acquisition of a 20% interest in Shanghai Pudong Development Bank. As China Mobile is the world's largest mobile carrier (based on its number of subscribers), the transaction could be a bellwether for future alliances between the telecom and financial services sectors in the market....
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In October 2010, partner Jiang Weibo led Haiwen's team in advising China Mobile on its acquisition of a 20% interest in Shanghai Pudong Development Bank. As China Mobile is the world's largest mobile carrier (based on its number of subscribers), the transaction could be a bellwether for future alliances between the telecom and financial services sectors in the market. The transaction had a complicated deal structure and encountered many first-ever regulatory and compliance issues which had to be worked out with innovative solutions.
Jiang Weibo also advised Shenzhen Development Bank (SDB) as Ping An Insurance Groupand its subsidiary Ping An Life Insurance Company of China (Ping An Life) sought to acquire a 29.9% share in the bank. The two-step acquisition involved a share swap from Newbridge Agia AIV III, and Ping An Life's subscription of the non-public SDB shares. The transaction, valued at Rmb6.9 million ($1.1 million), was seen as a new kind of strategic alliance between insurance companies and commercial banks in China. It was also highly complex in that it involved both a share swap and a non-public offering of shares of a listed company.
In April 2011, partners Zhang Jiping and Huang Lixin represented Goldman Sachs and GIC on their acquisition of approximately 14.6% of issued shares in Taiking Life Insurance Company. Taiking Life is one of the top five insurance companies in China.
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Realising the growing nature of the private equity market in China, Haiwen is positioning its private equity practice to be competitive in the market.Recently, Haiwen's capital markets team advised Bain Capital on its acquisition of ASIMCO Technologies Limited, including its 11 joint venture and wholly owned companies in China....
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Realising the growing nature of the private equity market in China, Haiwen is positioning its private equity practice to be competitive in the market.
Recently, Haiwen's capital markets team advised Bain Capital on its acquisition of ASIMCO Technologies Limited, including its 11 joint venture and wholly owned companies in China. ASIMCO has a substantial place in the Chinese market as the largest independent producer of diesel engine components in the country. Partners Jian Weibo and Yang Jingfang advised Bain on China-law related issues in the transaction, and they worked with international private equity counsel Kirkland & Ellis.
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