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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