Herbert Smith Freehills advises China Metal Resources Utilization Limited on Hong Kong IPO

Herbert Smith Freehills has advised China Metal Resources Utilization Limited on a HK$698.8 million Hong Kong initial public offering.

Herbert Smith Freehills represented China Metal Resources Utilization Limited (“CMRU”) on its HK$698.8 million Hong Kong public offering and Regulation S global offering. The issuer’s Hong Kong public offering was very significantly over-subscribed by 17.92 times. The issuer’s shares commenced trading on the Hong Kong Stock Exchange on 21 February 2014.

The listing of CMRU represents one of the first few take-private Chinese companies to have re-listed some of its businesses in Hong Kong. CMRU was formerly part of Gushan Environmental Energy Ltd. when it was first listed on the New York Stock Exchange in 2007. The company was taken private in 2012.

The Herbert Smith Freehills team on the deal was led by Hong Kong corporate partner Jason Sung, who was supported by associates Elisa Leung and Jeremy Shen. Hong Kong-based U.S. securities law partner Kevin Roy advised on the U.S. law aspects of the listing, and was supported by consultant Cindy Kao and associate George Wu in Hong Kong.

BNP Paribas Securities (Asia) Limited was the sole sponsor and sole global coordinator on the transaction.


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