Tianjin Tianbao Energy’s $10.7 Million Initial Public Offering


King & Wood Mallesons (KWM) advised the sole sponsor and the underwriters as the Hong Kong counsel on the initial public offering (IPO) and the listing of the H-shares of Tianjin Tianbao Energy Co., Ltd. (Tianbao Energy, Stock Code: 1671) on the Main Board of The Stock Exchange of Hong Kong.

Listed on 27 April 2018, the IPO comprised a share offer and placing of a total of 44.3 million shares, after the offer size adjustment option was exercised. Priced at HK$1.9 per share, the gross proceeds from the share offer and placing was approximately HK$ 84.2 million.

Tianbao Energy is the sole power operator in Tianjin Port Free Trade Zone with a focus in the cogeneration of steam together with electricity, heating and cooling. It is the only such power operator in Tianjin which is also engaged in electricity dispatch and sale.

Orient Capital acted as Sole Sponsor and Orient Securities acted as Sole Global Coordinator on the offering.

The KWM team was led by corporate & securities partner Candy Chan (Picture), and supported by counsel Kanne Leung, associate Gary Tsui, trainee solicitor Sophia Lui and paralegal Tynn Chen.

Involved fees earner: Candy Chan – King & Wood Mallesons; Kanne Leung – King & Wood Mallesons;

Law Firms: King & Wood Mallesons;

Clients: Orient Securities Company Limited; Orient Capital Pty Ltd.;

Avatar

Author: Michael Patrini