find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Mallesons among advisers to big Chinese listing

Mallesons among advisers to big Chinese listing

MALLESONS STEPHEN Jaques and several other international and Chinese firms advised on the HK$4.1 billion ($600 million) IPO and listing on the Hong Kong Stock Exchange of Chinese coke and coal…

MALLESONS STEPHEN Jaques and several other international and Chinese firms advised on the HK$4.1 billion ($600 million) IPO and listing on the Hong Kong Stock Exchange of Chinese coke and coal producer Hidili Industry International.

The offer included an international placement under regulation S and rule 144 of the US Securities Act, and both the Hong Kong and international placements were significantly oversubscribed.

Mallesons advised Hidili on the Hong Kong law aspects of the deal, assisted PRC counsel on the groups’ restructuring prior to the IPO, and helped to structure a pre-IPO investment via convertible notes by Barings Private Equity Asia.

“After a period of global market uncertainty, we are seeing Chinese issuers returning to tap the Hong Kong equity market,” said Conrad Chan, Mallesons lead partner on the deal.

The firm said the offer was supported by four “cornerstone investors” that bought shares at an aggregate value of US$80 million ($91 million). These included a company of which Dr Lee Shau Kee is a substantial shareholder, a company owned by the chairman of Bank of East Asia, Sir David Li Kwok-po, chairman and chief executive officer of Chinese Estates Holding Ltd, Joseph Lau Luen-hung and a company which is a trustee for the benefit of Kuok Hock Nien and all members of the Kuok group companies.

The other firms that acted for the issuer were Jones Day on US law aspects, Jingtian & Gongcheng on PRC law and Conyers Dill & Pearman on Cayman Islands law.

For the joint sponsors and underwriters, Paul, Hastings, Janofsky & Walker advised on Hong Kong and US law and Commerce & Finance Law Offices on the PRC law aspects.

“Our work on this highly-anticipated IPO reinforces our reputation for being one of the leading equity capital markets practices in Hong Kong,” said Mallesons’ China managing partner, Larry Kwok.

“Our lawyers have advised on approximately 100 IPOs on the Hong Kong Stock Exchange, many of which involve interests and assets located in the PRC.”

Hidili’s IPO was oversubscribed 670 times in Hong Kong. The net proceeds of the raising will be used to expand its production capacity and aquire more coal mines.

Mallesons said they had also recently acted as Hong Kong counsel to Sichuan Xinhua Winshare Chainstore on its HK$2.1 billion ($306 million) global offering and listing on the main board of the Hong Kong Stock Exchange.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Mallesons among advisers to big Chinese listing
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Jetski
Oct 23 2017
How to fail well
The legal profession is due for an attitude adjustment when it comes to perceived failures, accordin...
Consultation
Oct 23 2017
Lawyers slam rushed consultation for SA repeat offenders bill
The Law Society of South Australia has expressed concern for a proposal to roll out new laws amendin...
IBA
Oct 23 2017
The pursuit of happiness in the law
A panel of legal experts have explored how to define success in the legal profession, and how lawyer...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...