Latham & Watkins has advised Everbright Securities, a brokerage controlled by state-owned China Everbright Group Corp Ltd on its $1.3 billion Hong Kong initial public offering, with Clifford Chance representing the underwriters.

Everbright Securities, one of the largest securities groups in China, plans to use most of the funds to expand its capital intermediary business, including margin financing, to further develop overseas business, as well as to expand its international and domestic presence through acquisitions..

The Latham & Watkins team working on the transaction was led by Hong Kong partners Cathy Yeung, Eugene Lee and William Woo. The Clifford Chance team advising the underwriters, including UBS and Merrill Lynch, was led by partners Tim Wang, Virginia Lee and Jean Thio.