Clifford Chance, Global Law Office, King & Wood Mallesons and Commerce & Finance Law Offices have engaged in Yibin City Commercial Bank’s (YBCCB) HKD1.78 billion (USD227 million) IPO in Hong Kong. This is the first mainland bank to debut on the HKEX in the past three years.
Clifford Chance’s China practice chairman Tim Wang, along with partners Xiang Tianning and Fang Liu, acted as the issuer’s Hong Kong law counsel. Global Law Office served as YBCCB’s PRC law and data compliance counsel, and its team was led by partners Liu Jinrong, Wang Kunlin, Liu Chengwei, Zhuang Haojia, Qin Wei and Vincent Wang.
King & Wood Mallesons counselled the underwriters on Hong Kong law, while Commerce & Finance Law Offices advised on PRC law.
Established in 2006, YBCCB is the largest commercial bank in Yibin City in Sichuan province. China’s leading liquor producer Wuliangye is the bank’s largest shareholder. From 2021 to 2023, the bank’s total assets grew gradually from RMB68.5 billion (USD9.3 billion) to RMB80.4 billion. YBCCB will use the proceeds from this listing to support its business development.
