Jincheng Tongda & Neal recently advised on Camelot’s NYSE US$150m IPO and American depositary shares (ADS) offering, marking the largest US IPO from a PRC company seen in 2010. The Beijing-based company, which works on behalf of IBM and Accenture Plc. The company helps install and maintain business-management software and makes most of its sales in China, Japan and Taiwan. Camelot will receive 69% of the proceeds of the sale, with owners such as New York-based Citigroup’s venture capital funds receiving the rest.

JT&N is Camelot’s long-term legal counsel, advising them on daily corporate legal needs including contractual reviews. The firm’s offshore listing practice is currently led by senior partners Stephen Peng and Shao Guozhong along with the lead partner on Camelot’s deal, Tian Bin. “This deal has become a great driver for our offshore listings practice. While we did not used to specialise in advising on offshore listings, it has now become one of JT&N’s growth sectors” said Tian.

“Given the increasing interest in the sector, we are starting to place more focus on helping clients list offshore. PRC companies have always worked towards listing, and they are getting much closer to realising their dreams,” she added.

*Goldman Sachs acted as the sole global coordinator and as a joint bookrunner with Barclays Capital, William Blair & Company, Cowen and Company and Oppenheimer. ALB

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