Davis Polk Advises CSC Financial Co., Ltd. on Its HK$7.1 Billion (US$914.9 Million) Initial Public Offering

Davis Polk advised CSC Financial Co., Ltd. on its initial public offering and listing on the Main Board of The Stock Exchange of Hong Kong Limited and an international offering in reliance on Rule 144A and Regulation S. The net proceeds from the global offering to be received by CSC are estimated to be approximately HK$7.1 billion (US$914.9 million) prior to any exercise of the over-allotment option. CSC’s shares are traded on HKEX from December 9, 2016.

CSC is a leading large full-service investment bank in the PRC with superior value creation capabilities. CSC ranked No. 1 in terms of return on average equity for four consecutive years from 2012 to 2015 among China’s 20 largest securities firms measured by total asset.

The Davis Polk corporate team included partners Bonnie Y. Chan and Li He, associates Lillian Lian and Mun Bbill Tang and registered foreign lawyers Meng Ding and Michael Yu. Counsel Alon Gurfinkel provided tax advice. Partner John B. Reynolds III and counsel Jeanine P. McGuinness provided OFAC and other U.S. regulatory advice. Counsel Sarah E. Kim provided 1940 Act advice. Members of the Davis Polk team are based in the Hong Kong, Beijing, London, New York and Washington DC offices.