HONG KONG (January 4, 2012) – Morrison & Foerster's Hong Kong office completed three IPOs on the Hong Kong Stock Exchange for Guodian Technology and Environment Group Corporation Limited, China Tianrui Group Cement Company Limited, and SPT Energy Group Inc. in one week. The Guodian IPO closed on December 30, 2011, and Tianrui and SPT Energy both listed on December 23, 2011.
"We are very excited to have completed three marquee IPOs in one week, despite the current market volatility," said Hong Kong office managing partner Ven Tan.
"Our ability to execute multiple deals in such a short time frame is a testament to the experienced and highly-qualified lawyers we have at the firm," said corporate partner John Moore, who co-heads the China Capital Markets Team with Tan.
The three IPOs included:
- Guodian IPO: The firm represented China International Capital Corporation, UBS and Royal Bank of Scotland as joint bookrunners on the US$300 million Hong Kong IPO and Rule 144A/Regulation S global offering of Guodian Technology and Environment Group Corporation Limited. Guodian is the largest environmental protection and energy conservation solutions provider for coal-fired power plants operating in China. Its parent company, Guodian Group, is a Fortune Global 500 company and one of the five largest power producers in China. Guodian was recently ranked as the largest wind farm operator in Asia and second largest wind farm operator in the world by total installed capacity. The team was led by Hong Kong partners Charles Chau and John Moore.
- China Tianrui Cement IPO: The firm represented China Tianrui Cement on its US$124 million Hong Kong IPO and Regulation S global offering. Deutsche Bank, BOC International, BOCOM International and CCB International acted as the joint lead managers on the offering. China Tianrui Cement is a leading clinker and cement producer based in Henan province in Eastern China. The team was led by Hong Kong partners John Moore and Gregory Wang.
- SPT Energy IPO: The firm represented SPT Energy on its US$70 million Hong Kong IPO. Morgan Stanley acted as the global sponsor. SPT Energy is one of the leading non-state-owned providers of oilfield services in China and is closely affiliated with CNPC, China's largest state-owned oil and gas company. While its primary operations are located throughout China, the company also has operations as far reaching as the Middle East, North America, Central Asia, and Southeast Asia. The team was led by Hong Kong partners Xiaohu Ma, John Moore and Charles Chau.