King & Wood Mallesons (KWM) Hong Kong office has advised CAA Resources Limited (CAA Resources) on its HKD487.5 million initial public offering (IPO) in Hong Kong.
CAA Resources is an iron ore product supplier in the State of Pahang, Malaysia. Its primary business operations include iron ore exploration, mining, crushing and beneficiation in Malaysia as well as sale of iron ore products in the form of iron ore concentrates and iron ore fines to the PRC.
The successful listing is notable as it is one of the few listings pursuant to Chapter 18 of the Listing Rules for listing of mining companies in 2013 and by one of the few listed issuers in Hong Kong with principal business operations and nexus in Malaysia.
Commenting on the transaction, Candy Chan a partner of KWM Hong Kong office who led the deal team said, “We’re delighted to have represented CAA Resources on this important transaction. The deal underlines the continuing importance of Hong Kong as the region’s principal capital market including for non-domiciled issuers. Wherever their business operations are located, issuers should feel confident that Hong Kong continues to provide a stable environment and easy access to the broad investor base.”
King & Wood Mallesons has one of the largest equity capital markets teams in Hong Kong and has advised on a wide variety of IPOs and related transactions in recent years.
Formed on 1 March 2012, King & Wood Mallesons has approximately 390 partners and 2200 fee earners worldwide. It is the only law firm in the world licensed to practise PRC, Hong Kong, Australian and English law.
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