Herbert Smith Freehills

Capital Markets (International Firms) Department

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What the team is known for Respected ECM team spanning Hong Kong IPOs and secondary offerings. Additionally well regarded in debt matters, advising issuers and underwriters on investment grade bonds and MTN programmes. Expertise spans convertible and exchangeable issuances, as well as trustee representation. Frequently represents clients in the finance and energy sectors.

Strengths Feedback indicates solid business awareness in the team, with one client saying: "They are one of the few legal advisers in the market who can demonstrate commercial flexibility and provide dedicated legal advice. The team I work with is able to revert on a very timely basis."

Another client comments: "They're very good and do very high-quality work, outstanding indeed. Their advice is very good and to the point. They're always reachable, really good."

Work highlights Acted for China International Capital Corporation and CEB International Capital Corporation as underwriters in the HKD2.93 billion IPO and spin-off listing of China Everbright Greentech on the Hong Kong Stock Exchange.

Assisted China Merchants Bank with its issue of USD1 billion 4.4% non-cumulative perpetual offshore preference shares.

Notable practitioners

Matt Emsley is highly recommended for advice on IPOs and top-up placings. A client says: "He is newly listed as a member of the Hong Kong Stock Exchange Listing Committee. That's a strong plus. He is hands on, responsive and strong technically."

William Ku is a very active up-and-coming DCM lawyer, sought out for work on bond issuances and note programmes. One client remarks: "He's very actively involved on deals. A nice guy, very knowledgeable and technically very strong."