Dalian Port Company—listed in Hong Kong and Shanghai, and the 10th largest port company in the world—will place up to 1.5 billion new H-shares under a specific mandate.
The first tranche of the placement was for just over 1 billion shares, subscribed by China Merchants Holdings at the price of HK$3.67 per share.
The deal is distinctive for H-share listed companies as it involves possibly more than one tranche under the same shareholders' mandate, allowing greater flexibility with the appropriate offering size.
Clifford Chance acted for GF Securities (Hong Kong) Brokerage as the sole placing agent, with Tim Wang leading the deal alongside senior associate Yufei Liao and associate Claire Cao.
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