VISCHER: Hangzhou GreatStar lists GDRs on SIX Swiss Exchange
As we have informed last 15 November 2022 here, Hangzhou GreatStar Industrial, whose A Shares are listed on the Shenzhen Stock Exchange, became the eighth Chinese company that has listed global depositary receipts (GDRs) on the SIX Swiss Exchange. Hangzhou GreatStar Industrial issued and listed 11,812,700 GDRs at an offer price of USD 13.08 per GDR, with one GDR representing five A Shares. It raised gross proceeds of approximately USD 154.5m from the offering. Trading in the GDRs on the SIX Swiss Exchange commenced on 15 November 2022.
The company has built a portfolio of tool brands, some with an operating history of over a hundred years. The product portfolio mainly consists of hand tools, storage cabinets, power tools and laser measurements.
VISCHER has also supported Hangzhou GreatStar Industrial as Swiss counsel in connection with the fulfillment of listing requirements. The team included partner Robert Bernet (pictured), counsel Peter Kühn and senior associate Christian Schneiter.
