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Clifford Chance advises Zhejiang Yongtai on its London GDR offering and listing

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11 July 2023

Clifford Chance advises Zhejiang Yongtai on its London GDR offering and listing

Leading international law firm Clifford Chance has advised fluoric fine chemicals manufacturer Zhejiang Yongtai Technology Co., Ltd (Zhejiang Yongtai) on its US$70 million GDR (global depository receipts) offering and listing on the Stock Connect segment of the London Stock Exchange's Main Market under the Shenzhen-London Stock Connect Scheme.

China Co-Managing Partner Tim Wang led the cross-border team in Beijing, Shanghai, Hong Kong and London advising on the offering and listing:

  • Beijing, Shanghai and Hong Kong: Partner Jean Thio, counsel Lorna Lyu, Hao Wu and Torrance Shi, associates Ran Bi, Yaping Li and Meng Mao, trainee Xiao Tang, legal analysts Hao Lin and Menglin Liang, and paralegal Aili Zhu.
  • London: Partner Chris Roe, senior associates Yuli Adagun and Anjaneya Das, associates Ines Teixeira and Luke Ng, trainees Tehzeeb-Fatima Bukhari, Rita Aryeequaye and Lindy Mguni. Partner Nicola Hemsley and associate Georgia Whiteside advised on the tax aspects.

Tim said, "We are proud to advise Zhejiang Yongtai as the first Shenzhen Stock Exchange-listed company to issue and list GDRs on the London Stock Exchange. This transaction builds on our market-leading expertise of assisting Chinese issuers in accessing the international equity capital markets."

Zhejiang Yongtai specialises in the research, development and manufacturing of pharmaceuticals, agrochemical and materials derived from fluoride.

The firm is the leading legal adviser on the cross-border GDR listings of Chinese companies, most recently with the Swiss GDR listing of Zhejiang Huayou Cobalt. The firm had previously advised on the London GDR listings of Huatai Securities, China Pacific Insurance, SDIC Power and Ming Yang Smart Energy, and, with the GDR listing of Zhejiang Yongtai, the firm has advised on five out of the six London GDR listings undertaken pursuant to the Stock Connect Scheme.
 

高伟绅助力永太科技伦交所GDR发行上市

国际领先律师事务所高伟绅就含氟精细化学品制造商浙江永太科技股份有限公司(“永太科技”)于深伦通机制下在伦敦证券交易所主要市场的7,000 万美元全球存托凭证 (“GDR”)发行上市项目,担任发行人国际法律顾问。

本所中国区联席管理合伙人王彦峰律师、合伙人张珮真律师及Chris Roe共同牵头本项目,并由一支来自本所北京、上海、香港和伦敦办公室的跨境团队提供支持。该团队包括:

  • 北京、上海、香港:吕娜、吴皓、施超、毕然、李亚平、毛檬、唐潇、林好、梁梦琳和朱艾立;
  • 伦敦:Yuli Adagun、Anjaneya Das、Ines Teixeira、Luke Ng、Tehzeeb-Fatima Bukhari、Rita Aryeequaye和Lindy Mguni。合伙人Nicola Hemsley以及团队成员Georgia Whiteside就该交易涉及的税务事宜提供支持。

王彦峰律师表示:凭借高伟绅在协助中国发行人进入国际股权资本市场方面的领先实力,我们很荣幸能为永太科技成为首家在伦敦证券交易所发行上市GDR的深交所上市公司提供法律服务。

永太科技专门从事医药、农用化学品及氟化物材料的研发和制造。

高伟绅是中国企业跨境GDR上市的领先法律顾问,近日曾参与华友钴业的瑞士GDR发行上市。此前,高伟绅亦就华泰证券、中国太平洋保险、国投电力、明阳智能等企业的伦敦GDR发行上市提供法律服务。随着永太科技伦交所GDR发行上市,已有六家中国企业在互联互通机制下在伦敦GDR发行上市,高伟绅为其中五家提供法律服务。