(1888PressRelease)
August 07, 2009 - Kuan & Partners, a leading law firm based in Hong Kong, announced today that it has represented CBMG, a state-owned enterprise and one of the largest suppliers of building materials in the PRC, on its HK$6.8 billion (approximately US$884 million) global offering which comprised a Hong Kong public offer and an international offering, including a Reg S/246B placement.
This transaction is the first H-share listing on the Hong Kong Stock Exchange this year and the second largest IPO in Hong Kong so far this year.
Michael Xu, a partner in the Kuan and Partners capital markets practice in Hong Kong, who led the transaction, commented: “We are delighted to have advised on such a significant IPO in the Hong Kong capital markets. The deal was particularly complex due to the size and scope of the company, which comprises more than 100 subsidiaries, and its multi-segmented businesses and operations.
We were able to collaborate with the other working group members to navigate and resolve various regulatory issues throughout the process. The deal highlights the current strength of the local capital markets and we are very pleased to have been able to help our clients take advantage of these opportunities.”
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