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Clifford Chance advises Hangzhou GreatStar on its Swiss GDR listing

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15 November 2022

Clifford Chance advises Hangzhou GreatStar on its Swiss GDR listing

Leading international law firm Clifford Chance has advised Hangzhou GreatStar Industrial Co., Ltd. as counsel on its offering and listing of global depositary receipts (GDRs) on the SIX Swiss Exchange. The GDR offering is expected to raise gross proceeds of approximately US$155 million.

China Co-Managing Partner Tim Wang and partner Jean Thio jointly led the deal, with support from a Greater China team including counsel Lorna Lyu, Claire Cao and Yuanjing Chen, associates Sarah Ku and Luyi Jiao, trainees Shuai Gao and Ziguo Yang and legal analyst Menglin Liang.

Tim said, “The transaction demonstrates the strong demand of Chinese companies seeking access to global capital markets. We are glad to have advised on Hangzhou GreatStar’s Swiss listing. The transaction also marks the 10th GDR listing which we have advised since the launch of the scheme in 2019 and solidifies our firm's position as the market leader.”

The firm has been at the forefront of advising on GDR offerings under the Shanghai-London Stock Connect scheme and the expanded China-Europe Stock Connect scheme, including three pioneer Swiss GDR listings (Gotion High Tech Co. Ltd, Gem Co. Ltd and Ningbo Shanshan Co. Ltd), Lepu Medical’s Swiss GDR listing and Ming Yang Smart Energy's London GDR listing.

Hangzhou GreatStar is a leading industrial hardware and hand tools manufacturer in China.

高伟绅助力巨星科技瑞交所GDR发行上市

国际领先律师事务所高伟绅就杭州巨星科技股份有限公司(“巨星科技”)在瑞士证券交易所的全球存托凭证(“GDR”)发行上市项目提供法律服务担任公司的国际法律顾问。巨星科技的本次募集资金总额约为1.55亿美元。

本交易由高伟绅中国区联席管理合伙人王彦峰律师和合伙人张珮真律师共同领导,高伟绅大中华区团队为本项目提供支持,包括吕娜、曹阳、陈元婧、古昕、焦露漪、高帅、杨子果和梁梦琳。

王彦峰律师表示:本交易彰显了中国企业寻求进入全球资本市场的强劲需求。我们很高兴能代表巨星科技成功完成此次瑞士上市。本交易是高伟绅自2019年跨境证券交易互联互通机制推出以来参与完成的第十单GDR发行上市项目,也巩固了高伟绅在该领域的市场领军地位。

高伟绅始终处于“沪伦通”机制以及拓展后的“中欧通”机制下GDR发行上市业务的最前沿,近期业绩包括三家中企(国轩高科,格林美和杉杉股份)的开创性瑞士GDR发行上市 、乐普医疗的瑞士GDR发行上市 以及明阳智能的伦敦GDR发行上市

巨星科技是中国领先的工业五金和手动工具制造商。