Article
Deloitte assists listing of CICC
2020's largest financial IPO in the A-share market
Deloitte China continues to assist companies immensely by helping them continue to forge ahead in a challenging macro-economic and capital market environment. On 2 November 2020, we helped China International Capital Corporation Limited (CICC; 601995.SH) list on the Main board of Shanghai Stock Exchange. CICC is China's first Sino-foreign joint-venture investment bank and its listing was the largest from a financial institution in the A-share market so far in 2020.
As CICC's A-share reporting accountant, Deloitte China provides professional, high-quality audit services to the company. With its A-share listing enabling it to leverage the domestic capital market, CICC is now able to diversify its strategic layout and become a world-class investment bank in China.
In this offering, CICC issued 458,589,000 ordinary shares (A shares). The issue price was RMB28.78 per share and the IPO raised nearly RMB13.2 billion.
Deloitte China was appointed as CICC's A-share reporting accountant in 2019. With the joint efforts of the team led by Barry Man, Martin Wong, Ma Xiaobo and Jerry Han, audit & assurance financial service industry partners; Jinling Jiang, senior manager, Jenny Hua, Fang Ye and Henry Cao and other Financial Service Industry risk consulting partners, the Deloitte team cooperated with CICC to complete the work required in processing its A-share application using their rich professional knowledge, rigorous work approach, high efficiency, and strong, responsible work ethic. These qualities were highly regarded by CICC.
About the client
Established on 31 July 1995, CICC was the first Sino-foreign joint venture investment bank in China. It provides comprehensive, one-stop investment banking services to domestic and foreign enterprises, institutions and individuals. CICC has domestic and foreign securities business qualifications, and has established an extensive international business network. Its business encompasses investment banking, equities, fixed income, investment management, wealth management and research.
Deloitte China congratulates CICC on its successful listing on the Main Board of Shanghai Stock Exchange. We also look forward to leveraging our experience and view in both China and international market to help more companies diversify their strategic layouts, expand their capital scale, and accumulate advantageous resources.
Deloitte China is committed to being your strong business partner. If you need any counsel on IPO prospects and procedures, please do not hesitate to reach out to the IPO experts in our National Public Offering Group.
Dick Kay
Leader
National POG
Tel：+86 21 6141 1838
Email：dickay@deloitte.com.cn
Anthony Wu
Leader
A-Share Capital Market
Tel：+86 21 6141 1808
Email：xiawu@deloitte.com.cn
Tong Chuan Jiang
Northern China Regional Leader
A-Share Capital Market
Tel：+86 10 8520 7124
Email：tcj@deloitte.com.cn
Vivienne Li
Southern China Regional Leader
A-Share Capital Market
Tel：+86 755 3353 8208 / +86 755 3331 0908
Email：vivli@deloitte.com.cn
Shirley Ling
Western China Regional Leader
A-Share Capital Market
Tel：+86 28 6789 8075
Email：shiling@deloitte.com.cn
