Seven law firms have advised on Air China Cargo’s main board listing, raising RMB3.039 billion (USD466 million), helping the Shenzhen Stock Exchange end the year with the largest A-share IPO of 2024.
Partners Gao Wei, Xiao Yi, Xu Qifei and Marco Li led the Haiwen & Partners team acting as the issuer’s counsel. Air China Cargo also appointed five foreign law firms to counsel its overseas shareholders and branches: Fieldfisher, Nagashima Ohno & Tsunematsu, Pillsbury, Bae, Kim & Lee and Bird & Bird.
Fieldfisher’s team included China managing partner Zhou Zhaofeng, as well as partners Sheng Feng, Patrick Halfpap (Germany), Gennaro Di Noia (Italy), Marie Evrard (Belgium) and Marinus de Waal (Netherlands).
CITIC Securities, the underwriter, appointed Jia Yuan Law Offices’ senior partner Yi Jiansheng as its counsel.
Air China, Citic Pacific and Beijing Capital Airport Group established Air China Cargo in 2003 as a joint venture.
The air freight company offers logistics services and operates 24 routes. Headquartered in Beijing, it also operates in Shanghai, the Netherlands, the US and other locations. In 2023, Air China Cargo recorded operating revenue of RMB14.9 billion and a RMB1.15 billion net profit.
