Clifford Chance Advises PSBC and CCB on RMB235 Billion A-Share Issuances.
Clifford Chance has advised the Postal Savings Bank of China (PSBC) and China Construction Bank (CCB) through two major A-share issuances set to raise up to RMB235 billion (US$32.4 billion) in total.
PSBC plans to raise up to RMB130 billion (US$17.9 billion), with strong backing from key shareholders. The Ministry of Finance will take the lead with a RMB117.58 billion (US$16.2 billion) subscription, while China Mobile Group and China State Shipbuilding Group will contribute RMB7.85 billion (US$1.08 billion) and RMB4.57 billion (US$629 million), respectively.
The deal was led by partner Tianning Xiang, alongside counsel Jing Jing and legal specialist Chang Lei.
CCB’s issuance, valued at up to RMB105 billion (US$14.5 billion), will also be fully subscribed by the Ministry of Finance. Partner Tim Wang, who chairs Clifford Chance’s China Practice, led the transaction with support from Jing Jing and legal manager Hu Xinyi.
Tim Wang and Tianning Xiang commented, “We’re proud to support Postal Savings Bank of China and China Construction Bank on these important transactions. Strengthening their capital base helps reinforce the resilience of China’s financial system and supports continued economic growth.”
These capital-raising efforts are expected to enhance the banks’ core tier one capital, reinforcing the foundation of China’s financial system and supporting the country’s broader recovery and development goals.
Clifford Chance is a global law firm with over a century of history and a presence in 23 countries through 34 offices. A member of the prestigious Magic Circle, the firm is recognized for its deep expertise in banking, corporate law, finance, dispute resolution, and tax. It advises a broad spectrum of clients—including multinational corporations, financial institutions, governments, and not-for-profits—by combining international best practices with local market insight. Known for its collaborative culture and forward-thinking approach, Clifford Chance delivers innovative, high-quality legal solutions across every major industry and sector.
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