Herbert Smith Freehills has advised Macquarie Capital Securities Limited and ICBC International Capital Limited in relation to their role as the joint sponsors of Kangda International Environmental Company Limited’s (“Kangda”) HK$1.4 billion Initial Public Offering (IPO) and listing on the Hong Kong Stock Exchange.
Kangda is a leading wastewater treatment service provider in the People’s Republic of China. The company listed on the Hong Kong Stock Exchange on 4 July 2014.
The Herbert Smith Freehills team was led by Hong Kong partners Matt Emsley and Kevin Roy who were supported by associates Stanley Xie, Elisa Leung, Kai Sun, George Wu and Alison Tsai, with senior associate Chad Catterwell and tax consultant Susan Leung also providing specialist advice.
Matt Emsley said: “We were very pleased to act for Macquarie and ICBCI on this significant transaction, which is another example of the renewed strength we have seen in Hong Kong’s IPO market in the last few months.”
Kevin Roy said: “The public offering in the Kangda IPO was oversubscribed more than 250 times, highlighting the appetite for IPOs in Hong Kong currently.”
Kangda was advised by Orrick, Herrington & Sutcliffe.
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