Lovells HK acts on IPO for Citigroup

Lovells has strengthened its relationship with Citigroup after the firm scooped its first ever instruction to advise the bank on an IPO.


Lovells has strengthened its relationship with Citigroup after the firm scooped its first ever instruction to advise the bank on an IPO.

The City firm’s Hong Kong office was brought in to advise Citigroup Global Markets (Asia) in relation to the IPO by CSMC Technologies Corporation, which is on the Hong Kong Main Board.

Lovells won the work because the firm’s Asia head of corporate Jamie Barr, who joined Lovells in May, worked with CSMC on
a number of deals at his previous firm Johnson Stokes & Master and was recommended by the company to Citigroup.

The CSMC IPO nearly failed in June when it was aborted due to a low take-up. It was relaunched last month with a substantially reduced offer price.

CSMC was advised by Richards Butler.