Davis Polk advised Orient Securities Company Limited (“DFZQ”) 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 DFZQ are estimated to be approximately HK$6.8 billion (US$876 million) prior to any exercise of the over-allotment option.
DFZQ is a leading and fast-growing capital markets service provider in China. Its major business segments include trading and investment management, brokerage and securities financing and investment banking. It has 120 securities branches covering all 31 provinces in China. DFZQ was listed on the Shanghai Stock Exchange on March 23, 2015.
The Davis Polk corporate team included partners Bonnie Y. Chan, Paul Chow, James C. Lin and Li He, counsel Liang (Alex) Tao, associate Lillian Lian and registered foreign lawyers Michael Yu and Lin Ma. Counsel Alon Gurfinkel provided tax advice. Partner Gregory S. Rowland provided 1940 Act advice. Members of the Davis Polk team are based in the Hong Kong, Beijing, London and New York offices.