HONG KONG (March 31, 2017) – Morrison & Foerster’s Hong Kong capital markets team is representing BOCOM International in connection with Luzhou Xinglu Water (Group) Company’s HK$495M H-share initial public offering (IPO) in Hong Kong. BOCOM International is the sole sponsor and operates as a subsidiary of one of the largest banks in China, Bank of Communications Limited. Luzhou Xinglu is an integrated municipal water service provider and ranked second in terms of tap water sales volume in Sichuan Province.
Ven Tan, managing partner of Morrison & Foerster’s Hong Kong office and head of the China capital markets team led the deal team on this transaction, which is the third HK IPO deal for the firm in the last three months and the second major public utility IPO in Hong Kong following Shanghai Dazhong Public Utility Group Company’s HK$1.7 billion HK IPO in December 2016 which Morrison & Foerster also advised on as issuer counsel.
Morrison & Foerster is one of the leading capital markets firms in Hong Kong, as well as Greater China. The most respected ranking publications, such as Chambers Global, Chambers Asia Pacific, IFLR1000, and Legal 500 Asia-Pacific, have consistently ranked the firm highly for its premier capital markets offerings.