Latham & Watkins represents Kinetic Mines and Energy Limited, an integrated coal provider operating in China, in connection with its initial public offering (IPO) of 930,000,000 shares and listing on the Hong Kong Stock Exchange, including its international offering (144A/Reg S) of 837,000,000 shares and Hong Kong public offering of 93,000,000 shares. The offering raised approximately HK$1.1 billion gross proceeds after pricing its offering at HK$1.26 per share on 16 March 2012.
The Hongkong and Shanghai Banking Corporation Limited was the sole global coordinator and sponsor of the offering, with a number of underwriters involved, including UBS AG, Hong Kong Branch, BOCOM International Securities Limited, VMS Securities Limited, CCB International Capital Limited and Guotai Junan Securities (Hong Kong) Limited.
Hong Kong corporate partner Jane Ng said: “We are delighted to have helped Kinetic Mines and Energy Limited list on the Hong Kong Stock Exchange, adding to our strong portfolio of capital markets deals in the energy sector.”
Partner Stanley Chow, who also serves as Chair of the Corporate Department in Hong Kong, added: “Driven by rapid economic growth in the region, emerging market issuers in Greater China continue to lead the way in terms of fundraising. This is our second Hong Kong IPO in the energy sector in the last couple of months. It is particularly notable for two reasons: firstly, it confirms the Hong Kong Stock Exchange’s position as an attractive platform for issuers; and, secondly, it further demonstrates the strength of the energy market in China as one of the fastest growing sectors in the world. This is an exciting time for China and its energy industry and we are very pleased to be part of that story.”
Latham & Watkins acted as HK and US counsel to Kinetic Mines and Energy Limited. The Greater China team was led by Hong Kong partners Jane Ng, Stanley Chow and Eugene Lee, with Hong Kong associates Terris Tang, Zheng Wang and Felix Miao, Shanghai associate Louise Deng, Hong Kong foreign legal consultants Kyna Lo and Denise Tsui and Shanghai foreign legal consultant Leonard Lou. Los Angeles partner Samuel Weiner and associate Jason Choi handled the tax aspects of the transaction.
(Press Release by Latham & Watkins)
