Freshfields Bruckhaus Deringer (‘Freshfields’) has advised BOCOM International Holdings Company Limited (‘BOCOM International’) on its US$230m  spin-off and separate listing from Bank of Communications Co., Ltd. (‘Bank of Communications’). The shares commenced trading on the Hong Kong Stock Exchange today.

The initial offering contained 666,680,000 shares at a price of HK$2.68 per share. The Joint Global Coordinators include BOCOM International Securities, CICC, Haitong International, China Securities (International) Corporate Finance, HSBC and CSLA.

BOCOM International is a well-established and the only integrated platform for securities and related financial services of Bank of Communications in Hong Kong.  Bank of Communications is one of the state-owned joint stock commercial banks in China. BOCOM International plans to use the net proceeds primarily for the expansion of its margin financing, asset management and advisory  business.

The Freshfields team was led by China Chairman Teresa Ko, corporate partners Grace Huang and Calvin Lai and supported by regulatory partner Tim Mak.