NKF recently advised Shenzhen Senior Technology Material Co., on a successful global depositary receipts (GDRs) offering and subsequent listing on the SIX Swiss Exchange through the China-Switzerland Stock Connect. The lithium-ion battery separator manufacturer raised approximately USD 120.0 million by selling 12,684,800 GDRs at USD 9.46 per share. Trading on SIX commenced on December 18, 2023.
Huatai Financial Holdings (Hong Kong) led the offering as the sole global coordinator and joint bookrunner, with CLSA Limited, CMB International Capital Limited, and China Securities (International) Corporate Finance Limited as joint bookrunners. Shenzhen Senior Technology Material plans to utilize the net proceeds for overseas expansion, working capital, and general corporate purposes.
The transaction, overseen by Niederer Kraft Frey‘s capital markets partners Philippe Weber (pictured left) and Daniel Bono (pictured right), along with associates Thiago Claro and Manuel Hirlinger, marks a significant step for Shenzhen in its growth and global presence.