Deacons advised the sole sponsor Haitong International Capital Limited and underwriters in relation to the spin-off from Henan Jinma Energy Company Limited (SEHK Stock Code: 6885) and Main Board H-share IPO of Henan Jinyuan Hydrogenated Chemicals Co., Ltd. (SEHK Stock Code: 2502), which raised approximately HK$286.7 million (subject to the exercise of over-allotment option).
Henan Jinyuan Hydrogenated Chemicals Co., Ltd. is a supplier of hydrogenated benzene-based chemicals and energy products in Henan province. Based on revenue in 2022, it was the largest pure benzene supplier in Henan province, and the third largest liquefied natural gas supplier in Henan province, according to a market research report commissioned by the company.
The company launched its IPO on 12 December 2023. Dealings in its shares on the Main Board of the Hong Kong Stock Exchange commenced on 20 December 2023.
Our team is led by Ronny Chow, Head of our Corporate Finance Practice Group.
This is the fifth IPO of natural gas businesses in China advised by us in recent years. The earlier four cases, Suchuang Gas, JiaXing Gas, Huzhou Gas and JY GAS, were all led by Ronny.
