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Clifford Chance

Clifford Chance
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News and awards

Clifford Chance advises Zhejiang Huayou Cobalt on its US$582.5 million Swiss GDR offering and listing

7 July 2023

Clifford Chance advises Zhejiang Huayou Cobalt on its US$582.5 million Swiss GDR offering and listing

Leading international law firm Clifford Chance has advised lithium-ion batteries component manufacturer Zhejiang Huayou Cobalt Co., Ltd (Zhejiang Huayou) 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$582.5 million.

Partner Jean Thio led the cross-border team in Beijing, Shanghai, Hong Kong, London and Washington, DC advising on the transaction:

  • Beijing, Shanghai and Hong Kong: Counsel Lorna Lyu and Yuanjing Chen, senior associates Qingyu Wu and Xuemei Wang, associates Alex Feng, Jason Ng and Sarah Ku, trainee Siber Li, legal analysts Bryan Lu and Menglin Liang
  • London: Partners Chris Roe and Simon Thomas, and senior associate Anjaneya Das advised on English law primarily in connection with the depositary arrangements.
  • Washington, DC: Counsel Jacqueline Landells advised on the US regulatory aspect of the transaction.

Partner Jean Thio said, "We are delighted to continue to assist companies in the energy transition sector to raise capital overseas."

Zhejiang Huayou specialises in the research, development and manufacturing of new energy lithium-ion battery materials, and cobalt-nickel new materials.

The firm is the leading legal adviser on the equity capital markets transactions of key companies involved in the energy transition, in particular China's fast-growing EV sector. This includes advising on Leapmotor's US$807 million Hong Kong IPO, the Swiss GDR listings of Gem Co., Ltd (green technology developer in waste battery recycling), Gotion High Tech Co., Ltd (lithium-ion batteries manufacturer) and Ningbo Shanshan Co., Ltd (manufacturer and seller of lithium-ion anode materials and polarisers), and most recently Zhejiang Hangke Technology (provider of lithium-ion cell post-processing systems).

高伟绅助力华友钴业瑞交所GDR发行上市

国际领先律师事务所高伟绅就锂离子电池零部件制造商浙江华友钴业股份有限公司 (“华友钴业”) 在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,担任发行人国际法律顾问。本次GDR 发行预计筹集资金约5.825 亿美元

高伟绅合伙人张珮真律师牵头本项目,并由一支来自本所北京、上海、香港、伦敦和美国华盛顿特区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、陈元婧、吴擎宇、王雪梅、冯也威、吴子轩、古昕、李帛汐、卢远航和梁梦琳;
  • 伦敦:合伙人 Chris Roe、Simon Thomas 以及高级律师 Anjaneya Das 主要就本项目存托安排涉及的英格兰法律提供支持;
  • 美国华盛顿特区:资深顾问律师 Jacqueline Landells 就该交易涉及的美国监管事务提供支持。

张珮真律师表示:我们很高兴凭借高伟绅在资本市场领域的领先业务能力,持续协助能源转型领域的企业在海外筹集资金。

华友钴业主要从事新能源锂电材料和钴镍新材料的研发制造业务。

高伟绅是股权资本市场领域的领先法律顾问,经常就能源转型领域特别是中国快速增长的电动车行业的大型企业的相关交易提供法律服务。近期代表性交易包括零跑汽车8.07亿美元香港IPO以及多家中国企业的瑞士GDR发行上市 ,比如国轩高科(锂离子动力电池企业)、格林美(主营废电池回收的绿色科技型企业)、杉杉股份(锂离子负极材料和偏光片制造与销售商)及杭可科技(锂离子电池生产线后处理系统整体解决方案供应商)。