find the latest legal job
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Adelaide CBD · Join a leading Adelaide commercial law firm
View details
Freelance Project Finance Lawyers
Category: Other | Location: All Australia
· Vario are looking for freelance lawyers with experience in project finance ideally within the renewable energy sector
View details
Vario Freelance Lawyers
Category: Construction Law | Location: All Australia
· We are looking for lawyers who appreciate the endless possibilities that a freelance career can offer.
View details
Freelance Construction Lawyers
Category: Construction Law | Location: All Melbourne VIC
· We are looking for construction lawyers who appreciate the endless possibilities that a freelance career can offer.
View details
Banking Associate - 1-6PQE - Allen & Overy
Category: Banking and Finance Law | Location: United Kingdom
· Banking Associate - 1-6 PQE - Allen & Overy
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:

Book commemorates diamond milestone for WA law society

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

NSW proposes big justice reforms to target risk of reoffending

Mallesons among advisers to big Chinese listing
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
06:00
WA to close ‘legal loophole’ on gender reassignment laws
Laws in Western Australia will soon change to permit married people to undergo gender reassignment s...
Lawyers take to Twitter to share career stories
Jan 22 2018
Lawyers take to Twitter to share career stories
The #mypathtolaw hashtag has been embraced by legal eagles to swap stories with the Twitter communit...
Jan 22 2018
Legal body disappointed with DPP emails leaked to tabloid
The NSW Bar Association has expressed “profound disappointment” over leaked emails from the NSW ...
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 & ...