Advestra advised Keda Industrial Group and Ningbo Shanshan on their GDR offerings

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).