King & Wood Mallesons (“KWM”) advised GF Securities Co., Ltd. (“GF Securities”) on its successful Hong Kong IPO and H-share issuance. Already listed in Shenzhen, GF Securities issued 1,479,822,800 H-shares originally priced at HK$18.85 and raised approximately HK$28 billion (before exercising the overallotment option) among which 221,973,400 shares were under the exercise of the overallotment option. On the first trading day, the share price surged to HK$26.5 per share, with GF Securities raising approximately HK$32 billion, making it one of the largest IPO in the Asia-Pacific region this year.

King & Wood Mallesons acted as the PRC legal counsel to the sponsor. This transaction was led by partners Mr. Wang Lixin and Ms. Su Zheng, supported by Ms. Li Li, Ms. Han Linping and Ms. Chen Shaozhu. The successful transaction is another major milestone for GF Securities’ development as it is fast becoming one of China’s most influential securities companies. This IPO is also a further demonstration of KWM’s leading securities expertise.

GF Securities, China’s fourth largest broker by assets, is a leading provider of capital markets services to corporations, individuals, institutional investors, financial institutions and government clients in China.