Stevenson, Wong & Co. advised Jiangmen City Haina New Energy Investment Partnership (Limited Partnership) (江門市海納新能源投資合夥企業 (有限合夥)) (“Jiangmeng New Energy”) on its cornerstone investment in the global offering of CALB Co., Ltd. (中創新航科技股份有限公司) (Stock Code: 3931) (“CALB”).
CALB was officially listed on the Main Board of The Stock Exchange of Hong Kong Limited on 6 October 2022 and has raised HK$9.9 billion from its initial public offering, making it the third-largest initial public offering by fund raised in Hong Kong this year. CALB’s market capitalisation upon listing was HK$10.1 billion. CALB is a leading new energy technology company mainly engaged in the design, research and development, production and sales of EV batteries and ESS products. CALB is one of the top 10 companies in the global EV battery industry and is the third-largest EV battery maker in the PRC.
Jiangmen New Energy is a limited liability partnership established under the laws of the PRC and is principally engaged in the investment in the new energy industry with its own funds. The ultimate beneficial owner of Jiangmen New Energy is the Administration Commission of Jiangmen City (江門市人民政府國有資產監督管理委員會). Jiangmen New Energy invested in RMB700 million as cornerstone investment in CALB, making it the single largest cornerstone investor in value in the listing of CALB.
The SW team was led by corporate Partner Mr. Hank Lo and Senior Associate Mr. Terence Lau, supported by Paralegal Ms. Bethany Zhang.
Please contact Mr. Hank Lo or Mr. Terence Lau for any enquiries or further information about this transaction.