Legal DealFolio - New China Life Insurance Company IPO

Davis Polk advised New China Life Insurance Company Ltd. (NCI) on its US$1.9 billion initial public offering (IPO), including a global offering of H shares, consisting of an initial public offering on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A and Regulation S, and a concurrent offering of A shares listed on the Shanghai Stock Exchange. The IPO, with total proceeds of nearly US$2.1 billion if the over-allotment option is fully exercised, is one of the largest initial public offerings of PRC companies and the only concurrent A + H shares offering in 2011. Headquartered in Beijing, New China Life Insurance Company Ltd. provides a broad range of life insurance products and services to individual and institutional customers through its extensive distribution network in the country. NCI ranked third in the PRC life insurance market in terms of gross premium income in 2010. China International Capital Corporation Hong Kong Securities Limited, UBS AG, Hong Kong Branch, Goldman Sachs (Asia) L.L.C., The Hongkong and Shanghai Banking Corporation Limited, Merrill Lynch International, Deutsche Bank AG, Hong Kong Branch, BNP Paribas Capital (Asia Pacific) Limited and China Merchants Securities (HK) Co., Limited acted as joint book runners for the global offering. The Davis Polk corporate team included partners Howard Zhang, Li He and Jeffrey M. Oakes, counsel John J. Satory and associates Hao Yang, Meng Ding and Xiaotong (Lisa) Yuan. Partner John D. Paton and associate Adam B. Perry provided tax advice. Associate Catherine L. Martin provided 1940 Act advice. Junzi (June) Tan, Cong (Wendy) Pan and Andrew Daniel Kang were the legal assistants on the transaction. Members of the Davis Polk team are based in the Beijing, Hong Kong, London and New York offices.

Deal Date:	16-12-2011	Practice Area:	Equity Capital Markets
Deal Title:	New China Life Insurance Company IPO	Industry:	Life Insurance
Description:	Davis Polk advised New China Life Insurance Company Ltd. (NCI) on its US$1.9 billion initial public offering (IPO), including a global offering of H shares, consisting of an initial public offering on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A and Regulation S, and a concurrent offering of A shares listed on the Shanghai Stock Exchange. The IPO, with total proceeds of nearly US$2.1 billion if the over-allotment option is fully exercised, is one of the largest initial public offerings of PRC companies and the only concurrent A + H shares offering in 2011. Headquartered in Beijing, New China Life Insurance Company Ltd. provides a broad range of life insurance products and services to individual and institutional customers through its extensive distribution network in the country. NCI ranked third in the PRC life insurance market in terms of gross premium income in 2010. China International Capital Corporation Hong Kong Securities Limited, UBS AG, Hong Kong Branch, Goldman Sachs (Asia) L.L.C., The Hongkong and Shanghai Banking Corporation Limited, Merrill Lynch International, Deutsche Bank AG, Hong Kong Branch, BNP Paribas Capital (Asia Pacific) Limited and China Merchants Securities (HK) Co., Limited acted as joint book runners for the global offering. The Davis Polk corporate team included partners Howard Zhang, Li He and Jeffrey M. Oakes, counsel John J. Satory and associates Hao Yang, Meng Ding and Xiaotong (Lisa) Yuan. Partner John D. Paton and associate Adam B. Perry provided tax advice. Associate Catherine L. Martin provided 1940 Act advice. Junzi (June) Tan, Cong (Wendy) Pan and Andrew Daniel Kang were the legal assistants on the transaction. Members of the Davis Polk team are based in the Beijing, Hong Kong, London and New York offices.
Financial Center:	Beijing	Value:	1000.01-5000.00
Advised Party:	Issuer	Law Firm	Davis Polk
Issuer Jurisdiction-	China	Listing Jurisdiction-	Hong Kong
Classification:	Initial Public Offerings Hong Kong Stock Exchange	Lawyer	Howard Zhang

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Equity Capital Markets Law Firms and Lawyers

Practice Areas - Equity Capital Markets Law Firms and Lawyers