King & Wood Mallesons (KWM) has advised Everbright Securities Co., Ltd. (Everbright Securities) on its initial H-share issuance on the main board of Hong Kong Stock Exchange (Stock code: 06178) . Everbright Securities issued 680 million H shares (before exercising the overallotment option) priced at HK$12.68 per share, raising approximately HK$8.6 billion. In terms of its global offering, the transaction has received high recognition from a number of investors; while it has been warmly welcomed by the market with a 1.6 times oversubscription, making it one of the few issuances that has been oversubscribed this year.

Founded in 1996, Everbright Securities is a national comprehensive joint stock securities brokerage, invested and controlled by China Everbright (Group) Co., Ltd. It is one of the first three pilot innovative qualified securities companies approved by China Securities Regulatory Commission (CSRC).

Acting as the PRC legal counsel to the issuer, KWM has provided all-round professional legal services throughout the project, fully recognized and appraised highly by the client and other advisors. KWM’s legal team was led by partners Zhang Mingyuan, Gao Yimin, Liu Dongya and Ye Guojun, and partner Su Zheng also provided support to the project.

Zhang Mingyuan commented, “We feel lucky to advise Everbright Securities on its landmark IPO project. Combining our strong capability in the securities and capital markets and the extensive experience in advising domestic securities brokerages’ entering the Hong Kong capital market, KWM looks forward to assisting more clients with the promotion of their international development strategy, grasping the business opportunities in the future.”