Hong Kong: Leading international law firm Clifford Chance has advised Huaxin Cement Co., Ltd. on its B to H Share listing by way of introduction on the mainboard of the Hong Kong Stock Exchange. Prior to the transaction, Huaxin Cement is a company with its A and B Shares listed on the Shanghai Stock Exchange. Upon completion of the transaction, the B Shares of the company were delisted and subsequently listed in Hong Kong as H Shares by way of introduction, becoming a dual-listed company. This is the first Shanghai listed company to convert its B shares into H shares.
The Greater China team was jointly led by partners Virginia Lee and Jean Thio. They were supported by counsel Lorna Lyu, senior associate Qingyu Wu, associates Joy Chen, Jiwen Peng, Ryan Ho, trainee Ashley Sun and transaction supporting officer Evelyne Zhu.
Virginia commented, “We were delighted to support Huaxin Cement on its successful listing on the Hong Kong Stock Exchange – the first of its kind from the Shanghai listed companies. Our team is consistently able to deliver integrated corporate expertise in advising complex capital markets transactions. We look forward to seeing the company continue its success in making a substantive impact to its industry and the capital markets.”
Huaxin Cement is a leading Chinese building materials manufacturer specialised in the production and sales of cement, clinker, concreteand aggregate. With over 250 branches and subsidiaries operating in the PRC and overseas, Huaxin Cement is also involved in business of environmental protection, equipment manufacturing, EPC engineering and cement-based new building materials.