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Clifford Chance advises on Zhejiang Hangke Technology's Swiss GDR

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22 February 2023

Clifford Chance advises on Zhejiang Hangke Technology's Swiss GDR

Leading international law firm Clifford Chance has advised CLSA Limited and Huatai Financial Holdings (Hong Kong) Limited as joint representatives in the offering and listing of global depositary receipts (GDRs) of Zhejiang Hangke Technology Incorporated Company under the expanded China-Europe Stock Connect scheme on the SIX Swiss Exchange.

The GDR offering is the first listing registered on the Shanghai Stock Exchange Science and Technology Innovation Board, more commonly known as Shanghai Stock Exchange STAR Market, a Chinese science and technology focused equities market. The offering is expected to raise gross proceeds of approximately US$172.8 million.

Partner Jean Thio led the deal and was supported by counsel Lorna Lyu, associates Alex Feng, Edward Xie and Ashley Sun, legal analysts Yuxuan Liu, Yuting Yu and Menglin Liang.

Jean said, "We are excited to have advised on the first STAR Market GDR listing as Chinese science and technology companies expand and seek overseas capital. Such listing is an indication that the sectors of the listing companies are now becoming more diverse. We are glad that our expertise has assisted listing parties to complete the deal."

Zhejiang Hangke Technology provide customers with overall solution of lithium-ion cell post-processing systems.

The firm has a strong track recording of advising on Swiss GDR offerings since its launch in July 2022. Listing companies include leading lithium-ion power batteries company (Gotion High Tech Co., Ltd), green technology developer in waste battery recycling (Gem Co., Ltd), manufacturer of lithium-ion anode materials and polarisers (Ningbo Shanshan Co., Ltd), medical device and pharmaceuticals company (Lepu Medical), industrial hardware and hand tools manufacturer (Hangzhou GreatStar) and petrochemical conglomerate (Jiangsu Eastern Shenghong).
 

高伟绅助力杭可科技瑞交所GDR发行上市

国际领先律师事务所高伟绅就浙江杭可科技股份有限公司(“杭可科技”)在扩展后的中欧资本市场互联互通机制下在瑞士证券交易所的全球存托凭证(“GDR”)发行上市项目,担任联席代表中信里昂和华泰金融的国际法律顾问。

本交易是科创板上市企业的首单GDR发行。本次GDR发行预计筹集资金约1.728亿美元。

本项目由高伟绅合伙人张珮真律师领导,由吕娜、冯也威、谢云峰、孙沛遥、刘宇轩、郁宇婷和梁梦琳提供支持。

张珮真律师表示:在中国科技企业扩张并寻求海外资本的背景下,我们很荣幸能为科创板首例GDR发行上市项目提供法律服务。此类上市显示出上市公司行业多元化的趋势。我们很高兴能凭借高伟绅团队的专业知识,协助上市各方完成本次交易。

杭可科技为客户提供锂离子电池生产线后处理系统整体解决方案。

高伟绅自2022年7月首批瑞士GDR发行以来,参与了众多同类交易,拥有领先业绩。相关上市公司包括领先的锂离子动力电池企业国轩高科、动力电池回收绿色技术开发商格林美、锂离子负极材料和偏光片制造商杉杉股份、医疗器械及药品企业乐普医疗、工业五金和手动工具制造商巨星科技和化工企业东方盛虹。