Reed Smith HK helps forge $1.3bn China IPO listing

THE HONG Kong arm of Reed Smith has advised on one of the largest Asian IPOs this year, winning an instruction from China Zhongwang Holdings on its $1.3bn (£800m) listing on the Hong Kong Stock Exchange.

Richards Butler, in association with Reed Smith – which had been the Hong Kong arm of the UK’s Richards Butler prior to its merger with US firm Reed Smith -became part of the merged entity in October 2007, 10 months after the merger took place.

The listing of the aluminium extraction company involved a global team, with the issuer instructing Richards Butler partner KC Mok to advise on the Hong Kong elements of the deal.

Associate Richard Hall of offshore firm Conyers Dill & Pearman, who is based in Hong Kong, advised on ­Cayman Islands and British Virgin Islands law.

Hall said: “We’ve seen fewer IPOs in the current market conditions. This is the first billion-dollar IPO in eight months.”

Latham & Watkins partner David Zhang and Morrison & Foerster partner Ven Tan led the respective teams acting as Hong Kong and US counsel to the joint legal coordinators and bookrunners UBS, JPMorgan and CITIC Securities Corporate Finance (Hong Kong).