Clifford Chance has advised GF Securities (Hong Kong) Brokerage Limited as the sole placing agent on Dalian Port Company Limited's proposed placement of up to 1,475,400,000 billion new H shares under specific mandate. The first tranche of the placement was for 1,180,320,000 shares, subscribed by China Merchants Holdings (International) Company Limited at the price of HK$3.67.

Partner Tim Wang led the deal and was supported by senior associate Yufei Liao and associate Claire Cao.

Tim said, "This deal was unique for H-share listed companies as it involved potentially more than one tranche placements under the same shareholders' mandate, allowing the issuer greater flexibility to capture market window with the appropriate offering size. We are pleased to assist this very innovative transaction. We also advised Huaneng Power International in December on its US$730 million placement of new shares."

Dalian Port, dual listed in Hong Kong and Shanghai, is the largest port in northeast China and 10th largest in the world.