Baker & McKenzie Advises China Railway Construction Corporation Limited on its Global Offering

Hong Kong, 13 March 2008 – LAWFUEL – Baker & McKenzie’s securities team in Beijing and Hong Kong recently advised China Railway Construction Corporation Limited (“CRCC”), as Hong Kong and US law counsel, on its HK$18.3 billion / US$2.3 billion (before exercise of the over-allotment option) H-share offering. The H-shares commenced trading on the Hong Kong Stock Exchange on 13 March 2008. The combined global and the A-share offering of CRCC makes it the largest IPO of 2008 (as of date) – raising over US$5.4 billion.

CRCC is one of the ultra-large integrated construction companies in the world. In 2007, it was listed among the Fortune Global 500 companies, ranked 384th in terms of total revenue. In the same year, CRCC was also ranked 15th, in terms of total revenue, in the Top 500 Chinese Enterprises by the Chinese Enterprise Confederation and the China Enterprise Directors Association. CRCC is one of the largest providers of railway construction services in China and has participated in the construction of almost all the railway lines constructed in China after 1949. CRCC is also the largest provider of highway construction services in China, with a particular focus on freeways, bridges and tunnels. CRCC is currently engaged in providing construction services for 137 overseas projects across 27 countries. Notable projects include the Qinghai-Tibet Railway Line, Hong Kong West Rail and the Tanzania-Zambia Railway Project.

The Baker & McKenzie team was led by securities group Partners PH Chik (Hong Kong law aspects) and Allen Shyu (US law aspects). The team had lead responsibility for legal documentation, drafting of the offer documentation, corporate and regulatory issues, liaison and clearances with the Hong Kong Stock Exchange, and general transaction management.

Commenting on the deal, CY Leung, senior partner of the Securities Group at Baker & McKenzie said, “We are delighted to have acted for CRCC on its global offering, the largest IPO of 2008 so far. Our involvement in this high profile IPO transaction fortifies our leading position in the areas of listings and fund raisings on the Hong Kong Stock Exchange by major Chinese state-owned companies, having acted on earlier offerings by industry leaders like China Coal, Shanghai Jin Jiang Hotels, China BlueChemical, China Shenhua, Air China, China Netcom and China Life.”

Citigroup Global Markets Asia Limited, Citic Securities Corporate Finance (HK) Limited and Macquarie Capital Securities Limited acted as the joint global coordinators, joint bookrunners, joint lead managers and joint sponsors of the global offering.

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