Ranking tables
Capital Markets: Equity (International Firms) | Global
China
Rankings overview for Departments
Change language
English (GB)
Band 1
Band 2
- Herbert Smith Freehills
- Kirkland & Ellis
- Latham & Watkins
Band 3
Band 4
- A&O Shearman 23 Years Ranked
- Linklaters 14 Years Ranked
- Paul Hastings 14 Years Ranked
- Slaughter and May 14 Years Ranked
- Wilson Sonsini Goodrich & Rosati 4 Years Ranked
- Cleary Gottlieb Steen & Hamilton LLP
- Deacons
Band 5
- Baker McKenzie 8 Years Ranked
- Fangda Partners 5 Years Ranked
- Milbank LLP 4 Years Ranked
- Morgan, Lewis & Bockius LLP 5 Years Ranked
- King & Wood Mallesons
- Tian Yuan Law Firm
Eminent Practitioners
Band 1
Band 2
Band 3
- Benita Yu Slaughter and May20 Years Ranked
- Calvin Lai Freshfields Bruckhaus Deringer13 Years Ranked
- Constance Choy Sidley Austin16 Years Ranked
- Gwen Wong Sullivan & Cromwell12 Years Ranked
- Haiping Li Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates5 Years Ranked
- Paloma Wang Skadden, Arps, Slate, Meagher & Flom and Affiliates3 Years Ranked
- Cathy YeungLatham & Watkins
- Freeman ChanCleary Gottlieb Steen & Hamilton LLP
- Ke GengO'Melveny & Myers LLP
- Mengyu LuKirkland & Ellis
- Ronny ChowDeacons
Band 4
- Dan Ouyang Wilson Sonsini Goodrich & Rosati4 Years Ranked
- Edwin Luk Morgan, Lewis & Bockius LLP14 Years Ranked
- Gilbert Li A&O Shearman6 Years Ranked
- Jean Thio Clifford Chance LLP12 Years Ranked
- John Moore Slaughter and May18 Years Ranked
- Liu Fang Clifford Chance4 Years Ranked
- Richard Wang Freshfields Bruckhaus Deringer6 Years Ranked
- Sherlyn Lau Sidley Austin3 Years Ranked
- Virginia Lee Clifford Chance8 Years Ranked
- Yang Chu Davis Polk & Wardwell LLP3 Years Ranked
- Benjamin SuLatham & Watkins
- Edwin KwokO'Melveny & Myers
- Shuang ZhaoCleary Gottlieb Steen & Hamilton LLP
Band 5
- Ching-Yang Lin Sullivan & Cromwell LLP2 Years Ranked
- Colin Law Fangda Partners19 Years Ranked
- Denise Jong Reed Smith Richards Butler12 Years Ranked
- James Grandolfo Milbank LLP17 Years Ranked
- Jason Xu Davis Polk & Wardwell LLP2 Years Ranked
- Jonathan Hsui A&O Shearman7 Years Ranked
- Lina Lee A&O Shearman13 Years Ranked
- Meng Ding Sidley Austin2 Years Ranked
- Nelson Tang Hogan Lovells International LLP6 Years Ranked
- Paul Anthony C Pery Milbank LLP14 Years Ranked
- Psyche Tai Norton Rose Fulbright8 Years Ranked
- Allen WangLatham & Watkins LLP
- Jason SungHerbert Smith Freehills
Up and Coming
- Lipton Li Linklaters1 Years Ranked
- Tianning Xiang Clifford Chance LLP1 Years Ranked
- Xuelin Wang Davis Polk & Wardwell LLP1 Years Ranked
- Yi Gao Simpson Thacher & Bartlett3 Years Ranked
- Yuting Wu Skadden, Arps, Slate, Meagher & Flom and Affiliates1 Years Ranked
- Ke ZhuO'Melveny & Myers
- Terris TangLatham & Watkins
All Departments profiles
Band 1
1 Clifford ChanceCapital Markets: Equity (International Firms)2024 | Band 1 | 14 Years RankedClifford Chance boasts an excellent track record of taking on large and complex IPOs on behalf of issuers, sponsors and underwriters, as well as handling a range of high-value secondary share offerings. One of the standout ECM teams in the region, it regularly advises on major transactions and also has an enviable DCM practice, assisting on the issuance of a range of products, including hybrid, panda and dim sum bonds. The firm is able to offer Hong Kong and US legal advice on cross-border offerings and consistently represents leading international and Chinese banks and investment corporations, with key clients including ICBC International, China Minsheng Bank and JP Morgan.1 Davis Polk & Wardwell LLPCapital Markets: Equity (International Firms)2024 | Band 1 | 13 Years RankedDavis Polk & Wardwell is a capital markets powerhouse with a superb reputation in high-value, cross-border equity matters, including some of the top IPOs and follow-on offerings in the region. An experienced adviser on international ADS offerings in the USA, the firm is also well known for its debt work, representing issuers and underwriters in major note and equity-linked bond offerings. It is additionally highly respected for its work in the high-yield space, with a steady flow of repeat and debut issuances from clients in the real estate, education, oil and gas, and automotive sectors. A robust bench of Hong Kong-based partners advises clients on matters involving US, English and Hong Kong law. Familiar with US regulatory bodies and the requirements of jurisdictions around the region, the team regularly advises on transactions relating to infrastructure, real estate and key commodity markets. Key clients of the firm include New Horizon Health, MedSci Healthcare and Tianfeng Securities.1 Freshfields Bruckhaus DeringerCapital Markets: Equity (International Firms)2024 | Band 1 | 14 Years RankedFreshfields Bruckhaus Deringer maintains its reputation as a stellar ECM practice, handling some of the largest and most complex deals in the market from its Hong Kong office. The team is respected for advising both Chinese and foreign issuers and bookrunners on IPOs, H-share spin-off listings and block trades. It is also skilled on the DCM front, acting for issuers and underwriters on both US dollar and renminbi-denominated offerings. The team is also active on a range of sizeable work under medium-term note programmes, as well as on convertible and green bond issuances. It handles transactions relating to the transport, pharmaceutical and healthcare industries. Shaoxing Paojiang Venture Construction Development, KE Holdings and Agricultural Bank of China are among the practice's clients.1 Skadden, Arps, Slate, Meagher & Flom and AffiliatesCapital Markets: Equity (International Firms)2024 | Band 1 | 14 Years RankedWith an integrated team which is highly commended across the board and has a significant track record of work in Hong Kong, Skadden, Arps, Slate, Meagher & Flom & Affiliates is highly sought after for ECM expertise, and the team is frequently instructed on market-leading US and Hong Kong IPOs, as well as follow-on offerings. It is known for its excellent high-yield expertise and offers an accomplished investment-grade debt practice across a wide range of offerings, including project bonds, convertible notes and ADS issuances. It services clients in a wide range of industries including tech, fintech, healthcare, renewables, consumer goods and education. The firm's key clients include Nufarm, Hesai Group and Bilibili.
Band 2
Band 3
3 Sidley AustinCapital Markets: Equity (International Firms)2024 | Band 3 | 14 Years RankedWith a well-rounded team with an exceptional reputation for handling complex and high-value high-yield debt work, Sidley Austin is also skilled at advising on investment-grade debt offerings, including hybrid products, green bonds and dual-currency offerings, regularly acting as issuer's counsel. The DCM team is also frequently sought out to advise on a range of debt restructuring mandates. The firm also maintains a very busy ECM practice, acting on a high number of IPOs and share placements and representing a range of issuers and underwriters. It is regularly engaged by international banks, as well as PRC and Hong Kong financial intermediaries, and is particularly active on issuances in the property, energy, biotech and pharmaceutical sectors, with key clients including Shanghai Fosun High Technology, Univest Securities and CIFI Holdings.3 Simpson Thacher & BartlettCapital Markets: Equity (International Firms)2024 | Band 3 | 13 Years RankedSimpson Thacher & Bartlett maintains its very strong reputation for complex and high-value ECM work. The team is experienced in handling IPOs and follow-on offerings, as well as ADS offerings, with deep experience assisting clients, including both issuers and underwriters, with listings on the SEHK, as well as the Nasdaq and NYSE. It frequently represents major Mainland Chinese entities in outbound deals. The practice fields a balanced Hong Kong and US law practice, while also advising clients on Taiwan-related offerings. It often acts on deals in the technology, transportation and automotive sectors. Key clients include Morgan Stanley, Shenzhen Pagoda Industrial and CICC.3 Sullivan & Cromwell LLPCapital Markets: Equity (International Firms)2024 | Band 3 | 13 Years RankedOffering a well-known practice with a core strength in advising on Hong Kong IPOs, Sullivan & Cromwell's additional capabilities include representing underwriters in rights issues and H-share offerings. The team is also able to advise on complex hybrid securities offerings and continues to advise a broad portfolio of clients in Mainland China and Taiwan, with recent work spanning the TMT, fintech and biotech sectors, as well as acting for healthcare and education sector clients. It works closely with its branches across the world to provide a comprehensive cross-border service.
Band 4
4 A&O ShearmanCapital Markets: Equity (International Firms)2024 | Band 4 | 23 Years RankedA&O Shearman has a highly experienced Hong Kong-based debt team working on complex cross-border investment-grade matters and panda bond issuances. It additionally advises on social bond offerings and large MTN issuances. Its solid equity practice advises issuers and underwriters on cross-border IPOs and secondary issuances. The firm represents an enviable roster of international banks, Chinese financial entities and sovereign issuers. Key clients include Bank of Communications, Bank of China and Zhejiang HangKe Technology. On 1st May 2024, Allen & Overy and Shearman & Sterling merged to form A&O Shearman.4 LinklatersCapital Markets: Equity (International Firms)2024 | Band 4 | 14 Years RankedLinklaters' Hong Kong-based debt team boasts a very strong reputation for its work on both straight and hybrid bond offerings, as well as notable experience on large green and sustainability bond issuances. The team is also well known for its specialist focus on commercial paper and renminbi bond offerings, and is increasingly prominent in handling complex high-yield note offerings. Additionally, the firm fields a well-respected equity practice which often handles significant IPOs, follow-on offerings and block trades. The unified practice advises clients on English, US and Hong Kong law issues and regularly acts for major Chinese and international banks and Hong Kong-listed companies, as well as a robust stable of SOEs. Its key clients include FWD Group, the People's Bank of China and China Tourism Group Duty Free Corporation.4 Paul HastingsCapital Markets: Equity (International Firms)2024 | Band 4 | 14 Years RankedWith a highly active ECM practice regularly advising PRC clients on IPOs and secondary offerings in Hong Kong, Paul Hastings' ECM expertise includes advising on global offerings and H-share listings for both Chinese and international underwriters and issuers. The firm regularly advises financial institutions and real estate companies, as well as biotech and healthcare clients. Key clients include Citi, Credit Suisse and MultiMetaVerse.4 Slaughter and MayCapital Markets: Equity (International Firms)2024 | Band 4 | 14 Years RankedOffering a high-quality equity capital markets practice with Hong Kong, UK and US law capabilities, Slaughter and May advises an impressive roster of Hong Kong and PRC clients on IPOs, secondary block trades and share placements. The team wins plaudits for strong working relationships with regulators and frequently acts for banks and clients in the financial services sector. Key clients include CICC, Kunshan Dongwei Technology, and Dekon Food and Agriculture Group.4 Wilson Sonsini Goodrich & RosatiCapital Markets: Equity (International Firms)2024 | Band 4 | 4 Years RankedWilson Sonsini Goodrich & Rosati fields a recognised team with a profile for advising clients in the technology, life sciences, healthcare and education sectors, as well as acting for banks and financial services clients as underwriters. It is well regarded for handling the US listings of Chinese clients and regularly handles IPOs, spin-off listings and follow-on offerings. The practice's key clients include Citigroup Global Markets, Fenbi and Huafang Group.- Cleary Gottlieb Steen & Hamilton LLPCapital Markets: Equity (International Firms)2024 | Band 4
Band 5
5 Baker McKenzieCapital Markets: Equity (International Firms)2024 | Band 5 | 8 Years RankedBaker McKenzie fields a robust team in Hong Kong that frequently collaborates with the firm's offices across the globe to offer clients coordinated advice on cross-border equity transactions. The team is frequently mandated to act for foreign and domestic clients on their Hong Kong IPOs, with additional capabilities in Swiss GDR offerings, privatisations by scheme of arrangement and rights issues. Key clients of the firm include CLSA, Horizon Construction Development and China United Lines.5 Fangda PartnersCapital Markets: Equity (International Firms)2024 | Band 5 | 5 Years RankedFangda Partners offers an increasingly prominent ECM practice with a growing team of experienced international capital markets lawyers based in Hong Kong. Recognised for significant activity assisting clients with IPOs, the firm is also well equipped to advise on debt issuances, with notable expertise in panda bond issuances. Its key clients include Deutsche Bank, CSSC (Hong Kong) Shipping and BMW.5 Milbank LLPCapital Markets: Equity (International Firms)2024 | Band 5 | 4 Years RankedMilbank offers a strong Hong Kong-based team with a regional focus, most notably with regard to Philippines expertise and with additional strengths in matters spanning India and Vietnam. The team regularly advises underwriters on US dollar high-yield bond issuances, while also handling convertible bond offerings and exchange offers. The team is also adept at advising underwriters on IPOs, particularly in relation to listings in the Philippines. Its key clients include Globe Telecom, Deutsche Bank and BNP Paribas.5 Morgan, Lewis & Bockius LLPCapital Markets: Equity (International Firms)2024 | Band 5 | 5 Years RankedMorgan, Lewis & Bockius has notable recognition in the Greater China region, with an expanding network of offices, serving clients from its base in Beijing, Shanghai, Shenzhen and Hong Kong. The team advises on a range of domestic and cross-border matters in the equity space, and is particularly active on Hong Kong IPOs, follow-on offerings and PIPEs. Its key clients include BetterLife, Intchains Group and China Everbright.