Leading international law firm Clifford Chance has advised China Aluminum International Engineering Corporation Limited (Chalieco) on its IPO which listed today. The company issued 363,160,000 H shares at HK$3.93 (US$0.51) each. The IPO raised approximately HK$1.427 billion (US$184 million). China International Capital Corporation Hong Kong Securities Limited and GF Securities (Hong Kong) Brokerage Limited acted as joint bookrunners.
Beijing partner Tim Wang who led on the deal said, “I am delighted we could assist Chalieco with this IPO. Despite global economic uncertainties, we continue to assist with several equity capital markets deals, including the biggest Hong Kong IPO so far this year for Haitong Securities, raising US$1.68 billion.”
Tim was supported by Hong Kong senior associates Anthony Wan and Ning Liu. Shanghai partner Jean Thio provided US legal advice. She was supported by Hong Kong senior associate Rong Chen and Shanghai associate Samia Qian.
Chalieco is a technology, engineering service and equipment provider in the nonferrous metals industry in China. The company provides fully integrated engineering solutions throughout various stages of the nonferrous metals industry chain. Businesses included engineering design and consultancy, engineering and construction contracting and equipment manufacturing. Chinalco is the controlling shareholder of the company.
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