27 April, 2018
King & Wood Mallesons (KWM) advised the sole sponsor and the underwriters as the Hong Kong counsel on the initial public offering (IPO) and the listing of the H-shares of Tianjin Tianbao Energy Co., Ltd. (Tianbao Energy, Stock Code: 1671) on the Main Board of The Stock Exchange of Hong Kong.
Listed on 27 April 2018, the IPO comprised a share offer and placing of a total of 44.3 million shares, after the offer size adjustment option was exercised. Priced at HK$1.9 per share, the gross proceeds from the share offer and placing was approximately HK$ 84.2 million.
Tianbao Energy is the sole power operator in Tianjin Port Free Trade Zone with a focus in the cogeneration of steam together with electricity, heating and cooling. It is the only such power operator in Tianjin which is also engaged in electricity dispatch and sale.
The KWM team was led by corporate & securities partner Candy Chan, and supported by counsel Kanne Leung, associate Gary Tsui, trainee solicitor Sophia Lui and paralegal Tynn Chen.
