9 October, 2018
King & Wood Mallesons (KWM) advised Prinx Chengshan (Cayman) Holding Limited (Prinx Chengshan, Stock Code: 1809) on its initial public offering on the Main Board of The Stock Exchange of Hong Kong (HKEX).
This successful completion validates our capability to offer seamless one-stop-shop support and advice in respect of the laws of both Hong Kong and the PRC.
Prinx Chengshan was listed on the HKEX on 9 October 2018. The listing comprised a total of 135,000,000 offer shares of Prinx Chengshan. Priced at HK$5.89 per share, the net proceeds raised from the listing were approximately HK$795 million (before exercise of the over-allotment option). BOCI Asia Limited was the sole sponsor and Guotai Junan Securities (Hong Kong) Limited was the sole global coordinator of the offering.
Prinx Chengshan is a leading domestic tire manufacturer in the all steel radial tires replacement market for commercial vehicles (excluding industrial vehicles) in the PRC and a major domestic tire manufacturer in the PRC. KWM previously advised on its strategic investment by SINOTRUK in 2015.
A cross border team from KWM Hong Kong, Beijing and Shanghai worked to successfully deliver the transaction. The KWM Hong Kong team was led by partners Candy Chan and Kanne Leung, with support from senior associate Owen Ow and associate Sharon Tang. The PRC team was led by Beijing-based partners Jin QingJun and Jia Diyan, and Shanghai-based partner Zhang Hengshun, with support from assistants Du Ruoying, Mao Zhinan, Zhai Lingling and Zhu Wenyu.
