Stevenson, Wong & Co. assisted Zhejiang Chang’an Renheng Technology Co., Ltd. (8139.hk) in its IPO on HKEx
SW assists Zhejiang Chang’an Renheng Technology Co., Ltd. (Stock Code: 8319) (the “Company”, together with its subsidiaries, the “Group”) to list on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (“GEM”) by way of placing H shares, the first domestic enterprise listed on GEM by way of placing H shares since May 2008. SW acted as the legal adviser for the Company and South China Capital Limited acted as the sole sponsor.
The listing of the H shares of the Company is also the first successful listing project jointly conducted by Allbright Law Offices and our firm since our association in November 2013. Allbright acted as the PRC legal adviser for the Company.
Photograph of Mr. Zhang Youlian (tenth from left), chairman and executive director of the Company, Ms. Xu Qinwei (ninth from left ) general manager of the Group, together with other senior members of the Group taken at the listing ceremony:
The shares were listed on GEM on 16 January 2015. 8 million H shares were offered for placing. The final placing price was HK$9.70 per placing share and the net proceeds amounted to HK$52.1 million.
The Group is principally engaged in the research and development, production and sales of bentonite fine chemicals. According to an industrial report, with revenue of nearly RMB72.4 million, the Group accounted for approximately 14.9% in bentonite papermaking fine chemicals market in the PRC in 2013, ranking first in this industry segment. The Group took the leading position of bentonite retention and drainage aids market with a market share of 16.7% in 2013.
Photograph of Mr. Zhang (second from right) and SW team members for the listing project, Mr. Vivian Ji (second from left), Mr. Xiaoming Zhong (on the left) and Ms. Joanna Fung (on the right) taken at the listing celebration dinner:
Please contact our Mr. Hank Lo for any enquiries or further information about this transaction.