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Clifford Chance advises Jiangsu Eastern Shenghong on its US$718 million Swiss GDR listing

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28 December 2022

Clifford Chance advises Jiangsu Eastern Shenghong on its US$718 million Swiss GDR listing

Leading international law firm Clifford Chance has advised chemical enterprise Jiangsu Eastern Shenghong Co., Ltd., on its global depository receipts (GDR) offering and listing on the SIX Swiss Exchange, via the China-Europe Stock Connect scheme. The GDR offering is expected to raise gross proceeds of approximately US$718 million.

Partners Fang Liu and Jean Thio led the cross-border Clifford Chance team advising on the transaction, including counsel Lorna Lyu, senior associate Emma Bao, associates Sarah Ku, Yuan Cao, Cathy Qian and Emily Tong and legal analysts Menglin Liang, Serena Shen and Xijie Wang. London partner Christopher Roe and senior associate Anjaneya Das advised on the depositary agreements and related GDR arrangement for the listing.

Fang said, "We are pleased to advise our client Eastern Shenghong on this important transaction, which will also be the largest Swiss GDR listing of a Chinese issuer in terms of offering size.”

The firm has been at the forefront of advising on GDR offerings under the expanded China-Europe Stock Connect scheme, including the Swiss listings of Gotion High Tech Co. Ltd, Gem Co. Ltd, Ningbo Shanshan Co. Ltd, Lepu Medical Technology Co. Ltd and Hangzhou GreatStar Co. Ltd.
 

高伟绅助力客户江苏东方盛虹发行7.18亿美元全球存托凭证并在瑞士证券交易所上市

国际领先律师事务所高伟绅就能源化工企业江苏东方盛虹股份有限公司通过中欧通发行全球存托凭证(GDR)并在瑞士证券交易所上市提供法律服务。本次发行预计募集资金总额约为7.18亿美元。

本交易由合伙人方刘和张珮真领导,来自高伟绅香港、上海和新加坡办公室的跨国团队为本交易提供法律服务。团队成员包括吕娜、包宸、古昕、曹嫄、钱超、童沁沁、梁梦琳、 沈拓和王曦捷。本所伦敦办公室的合伙人Christopher Roe和团队成员Anjaneya Das为交易项目的存托协议和相关GDR安排提供了支持。

方刘律师表示:我们很高兴能为客户东方盛虹发行全球存托凭证并在瑞士证券交易所上市这一重要项目提供法律服务。该交易是迄今为止发行规模最大的中国公司瑞士全球存托凭证上市项目。

高伟绅曾为中欧通项下的多项GDR发行提供法律服务,包括国轩高科股份有限公司、格林美股份有限公司、宁波杉杉股份有限公司、乐普(北京)医疗器械股份有限公司和杭州巨星科技股份有限公司发行全球存托凭证并在瑞士证券交易所上市。