Clifford Chance, JiaYuan Law Offices, Norton Rose Fulbright and Beijing Dacheng Law Offices have scored key advisory roles in BAIC Motor Corp’s $1.42 billion Hong Kong initial public offering.
The IPO was priced at HK$8.90 per share.
While HSBC Corporate Finance, CITIC Securities, Deutsche Securities and UBS were the joint sponsors for the IPO, Deutsche Bank, HSBC and Morgan Stanley acted as the joint global coordinators.
A Clifford Chance team led by partners Tim Wang and Jean Yu advised BAIC Motor on Hong Kong and U.S. law, while JiaYuan Law Offices provided PRC legal advice.
And while a Norton Rose Fulbright team led by partners Psyche Tai and Winnie Chan advised the joint sponsors, joint global coordinators and joint bookrunners on the IPO, Beijing Dacheng Law Offices acted as PRC counsel for them.
BAIC Motor Corp Ltd, the passenger car unit of state-owned Beijing Automotive Group, is China’s fifth-largest domestic car maker. Last year, Daimler AG sealed a deal with the company and now holds a 12 percent stake in it – something the German car maker is looking at to help boost its China presence.
