Deal highlights – Listings: New oriental, GDS, CICC

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Deal highlights - Listings- New oriental, GDS, CICC, 上市:新东方、万国数据、中金

New Oriental, the largest provider of private educational services in China, completed its US$1.31 billion secondary listing in Hong Kong on 9 October.

The company debuted on the New York Stock Exchange in 2006 as the first overseas-listed Chinese education company. Tian Yuan Law Firm, Conyers and Skadden represented New Oriental. Jia Yuan Law Offices and Herbert Smith Freehills represented the joint sponsors and underwriters.

Global Data Solutions (GDS), a Shanghai-based data centre services provider, made its secondary listing in Hong Kong on 2 November, raising US$1.67 billion.

The Nasdaq-listed company hosts some of the largest cloud services providers in mainland China, including AliCloud and Tencent Cloud.

King & Wood Mallesons (KWM) acted as PRC legal adviser to the issuer, and Simpson Thacher & Bartlett acted as Hong Kong and US legal adviser to the issuer. Fangda Partners acted as PRC legal adviser to the joint sponsors and underwriters, and O’Melveny acted as its Hong Kong and US legal adviser.

China International Capital Corporation (CICC), China’s biggest investment bank, debuted on Shanghai’s main board on 2 November and raised US$2 billion by issuing 459 million A shares.

KWM represented the issuer, and Haiwen & Partners represented the sponsors and underwriters.