Freshfields Bruckhaus Deringer has advised China Huarong Asset Management Co., Ltd. (China Huarong) on its HK$17.8bn (US$2.3bn) IPO.

Freshfields advised China Huarong on both the Hong Kong and US aspects of the listing, which commenced trading on the Hong Kong Stock Exchange on 30 October 2015.

China Huarong, a state-owned enterprise, is one of China’s largest distressed debt management companies.

The Freshfields team advising on the transaction was led by China Chairman Teresa Ko and US corporate partner Calvin Lai, taxation partner Claude Stansbury and dispute resolution partner Kimberly Zelnick.