Freshfields Bruckhaus Deringer (‘Freshfields’) has advised China Zheshang Bank Co., Ltd. (‘China Zheshang Bank’) on its placing of 759m new H-shares on the Hong Kong Stock Exchange. The transaction closed today (29th March 2018) and raised approximately US$464m.

The placing shares represent around 4.05 per cent of the total issued share capital of China Zheshang Bank as enlarged by the allotment and issue of the placing shares. China Zheshang Bank plans to use the proceeds of the placement to replenish the core tier-one capital.

The Freshfields team advising on the deal was led by partner Richard Wang.