As we have informed last 28th July, Keda Industrial Group and Ningbo Shanshan were among the first companies which successfully listed global depositary receipts (GDRs) on SIX Swiss Exchange.
Keda Industrial Group, whose A shares are listed on the Shanghai Stock Exchange, raised gross proceeds in the amount of approx. USD 173 mio. from the offering of GDRs and Ningbo Shanshan, whose A shares are listed on the Shenzhen Stock Exchange, in the amount of approx. USD 319 mio.
The UK China International Capital Corporation and China International Capital Corporation Hong Kong Securities acted as Joint Bookrunners in the offering of the Keda Industrial Group’s GDRs while Huatai Financial Holdings and Guotai Junan Securities acted as Joint Global Coordinators and, together with CLSA and Haitong International, as Joint Bookrunner in the offering of Ningbo Shanshan’s GDRs.
Advestra has acted as Swiss legal counsel to Keda Industrial Group and Ningbo Shanshan. The team included partner Annette Weber (pictured), Thomas Reutter, Alexander Fisch, Fabian Wild and Levy Corba (all capital markets) and Céline Martin (tax).
Legal firm VISCHER has also acted as SIX Listing Agent for Ningbo Shanshan, whereas Linklaters has acted as international lead counsel. The team was led by partner Adrian Dörig (head of banking & finance) comprised Peter Kühn (counsel, banking & finance), Christian Schneiter (senior associate, banking & finance), Anna Salm (junior associate, banking & finance), Lukas Züst (head China Desk) and Qinqin Yao (legal expert China Desk).