Clifford Chance and King & Wood Mallesons have advised Chinese securities company Shenwan Hongyuan Group on its $1.16 billion IPO on the Hong Kong Stock Exchange, with Latham & Watkins and Grandall Law Firm representing the joint sponsors.

This IPO happens to be the largest, not just in Hong Kong, but in Asia, so far this year, according to Reuters. The sponsors included Shenwan Hongyuan, Goldman Sachs, ICBCand ABCI.

Shenwan Hongyuan’s float will surpass the initial public offering (IPO) of Embassy Office Parks Real Estate Investment Trust in India which fetched $687 million, making it the largest in the region, Refinitiv data showed.

At the higher end of the price range it could also be the world’s third-largest stock market float in 2019, behind only ride-hailing company Lyft’s $2.5 billion IPO in New York and Network International Holdings’ $1.42 billion IPO in London, the data showed.

The Clifford Chance team was led by partners Tim Wang and Fang Liu, while the Latham & Watkins team was led by partners Cathy Yeung, Terris Tang and Yilong Du.

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