Paul Chow
  1. Partner

Mr. Chow is a partner in Davis Polk’s Corporate Department, resident in Hong Kong. He advises on a range of public and private M&A transactions, cross-border and strategic investment transactions and a number of privatizations and takeovers in Hong Kong. His clients have included PRC state-owned and private enterprises, Hong Kong-listed companies and international corporates, sovereign wealth funds and private equity and buyout funds. He has also advised investment banks and issuers on a large number of equity, equity-linked and debt offerings, including initial public offerings and rights issues.

 

Work Highlights

M&A

His recent mergers and acquisitions experience includes advising:

  • Vanke Service (HongKong) Co. on its investment in Cushman & Wakefield plc 
  • Warburg Pincus and Barings Asia on Xinjiang Xintai's partial offer to acquire AAG Energy
  • Independent financial adviser to the independent board committee of Orient Overseas (International) Limited ("OOIL") on the acquisition of all the issued OOIL shares held by qualifying OOIL shareholders by COSCO Shipping Holdings Co., Ltd.and Shanghai International Port (Group) Co., Ltd. by way of a general offer.
  • We Doctor Holdings Limited on its $500 million issuance of shares to investors led by AIA Company Limited and New World Development Company Limited
  • Red Star Macalline Group Corporation Ltd. on its $590 million proposed voluntary offer to repurchase H shares
  • Jeneration Holdings Limited on its HK$2.2 billion acquisition of AXA Wealth Management
  • Tongcheng Network Technology Limited on its proposed combination with China E-dragon Holdings Limited
  • China Vanke Co. on its participation in the $11.6 billion consortium acquisition of Global Logistics Properties Ltd. 
  • Intime Retail (Group) Company Limited (Intime) on its $2.55 billion privatization. He also advised Intime in connection with the strategic investment by Alibaba Group in 2014
  • Aluminum Corporation of China Limited on its $326 million proposed privatization of Chinalco Mining Corporation International
  • Joy City Property Limited on its disposal of a 49% shareholding in six mixed-use complex property projects in the PRC to subsidiaries of China Life Insurance Company Limited and GIC (Realty) Private Limited
  • Fujian Thai Hot Investment Co. Ltd. on its acquisition of Dah Sing Life Assurance Company Limited, Dah Sing Insurance Services Limited and Macau Life Insurance Company Limited from Dah Sing Financial Holdings Limited and Macau Insurance Company
  • Li & Fung Limited on its divestment of its Asia consumer and healthcare distribution businesses
  • China Resources Beer (Holdings) Company Limited on its acquisition of a 49% interest in China Resources Snow Breweries Limited
  • Kerry Media Limited on its sale of its controlling stake in Armada Holdings Limited
  • Delta Air Lines, Inc. on its strategic investment in China Eastern Airlines Corporation Limited
  • Greenland Financial Overseas Investment Group Co., on its strategic investment in Broad Greenstate International Company Limited
  • Beijing iRENA Culture Co., Ltd. on its acquisition of a substantial stake in Ourgame International Holdings Limited
  • Ontario Teachers’ Pension Plan on its investment in Sinopec Marketing Company Limited
Capital Markets

His recent capital markets experience includes advising:

Equity

  • The underwriters on the $403.1 million Hong Kong IPO and global offering by Innovent Biologics, Inc.
  • The underwriters on the $903 million Hong Kong IPO and global offering by BeiGene, Ltd.
  • China Everbright Greentech Limited on its $390.2 million Hong Kong IPO and global offering
  • China Resources Beer (Holdings) Company Limited on its $1.2 billion rights offering
  • Orient Securities Company Limited on its $876 million Hong Kong IPO and global offering
  • The sole sponsor on the spinoff and listing on the Hong Kong Stock Exchange of Chia Tai Enterprises International Limited
  • The underwriters on the $294 million Hong Kong IPO and global offering by AAG Energy Holdings Limited
  • Kerry Logistics Network Limited on its spinoff from Kerry Properties Limited, and its subsequent $282 million Hong Kong IPO and global offering
  • Mongolian Mining Corporation on its $201 million global rights offering of H shares
  • The underwriters on the $473 million rights offering by China Communications Services Corporation Limited
  • The underwriters on the secondary offering by Naspers of $9.8 billion of Tencent shares

Debt

  • Zhongsheng Group Holdings Limited on its HK$2.35 billion convertible bonds repurchase and HK$3.925 billion convertible bonds issuance
  • Tencent on its multiple notes offerings
  • China Cinda Asset Management Co., Ltd. on its multiple notes offerings
  • Greenland Hong Kong Holdings Limited on its multiple notes offerings
  • Hilong Holding Limited on its multiple high-yield senior notes offerings
  • ENN Energy Holdings Limited's multiple bond offerings
  • The underwriters on China National Chemical Corporation's multiple guaranteed bonds offerings
  • Hong Kong Red Star Macalline Universal Home Furnishings Limited on its $300 million investment grade bonds offering
  • Orient Securities on its $500 million bond offering
  • The underwriters on China State Construction Engineering Corporation Limited’s $1 billion notes offering
  • China Reinsurance (Group) Corporation on its $800 million notes offering and $700 million tap offering
  • CIFI Holdings on its HK$2.79 billion convertible bond offering
  • Zhongsheng Group Holdings Limited on its HK$2.35 billion convertible bonds offering
  • The underwriters on China Evergrande Group's HK$18 billion convertible bonds offering
  • The underwriters on China Orient Asset Management Company Limited's $4 billion MTN program establishment and multiple notes offerings
  • China Yongda Automobiles Services Holdings Limited on its RMB1 billion Regulation S credit enhanced convertible bonds offering

Recognition

Mr. Chow is consistently recognized as a leading lawyer in various industry publications:

  • IFLR1000 – Capital Markets (Debt): Hong Kong, Leading Individual
  • Chambers Asia-Pacific:
    • Capital Markets (Equity): China, Leading Individual
    • Corporate M&A: Hong Kong-Based (International Firms): China, Leading Individual
  • The Asian Lawyer – “All-Star Lawyer,” Consumer Products and Retail, 2014

Professional History

  • Partner, Davis Polk since 2011
  • Partner, Linklaters, 2006-2011
  • Partner, Slaughter and May, 2004-2006

    Bar Admissions

    • Hong Kong
    • England and Wales
    • State of New York

    Education

    • LL.B., London School of Economics and Political Science, 1994
    • M.Sc., Global Business, The Chinese University of Hong Kong, 2000

    Languages

    • Cantonese
    • English