Leading international law firm Clifford Chance has advised the underwriters UBS, CITIC Securities Corporate Finance (HK) Limited, J.P. Morgan and Deutsche Bank on Zhengzhou Coal Mining Machinery Group Company Limited’s IPO. The company sold 221,122,000 H shares at HK$10.38 each raising approximately US$296 million (HK$ 2.295 billion).
“We were delighted to work on this deal, making it the fifth H share IPO for the team this year,” said Beijing Partner Tim Wang.
Tim led the Greater China team including senior associate Ning Liu, and associates Hao Wu and Lindsay Gao in Beijing; partner Jean Thio, senior associate Eli Gao and associate Leo Chen in Shanghai, and partner Virginia Lee and consultant John Baptist Chan in Hong Kong.
This is the fifth H share IPO this year for the team having also completed IPOs for Haitong Securities Co., Ltd., Inner Mongolia Yitai Coal Co., Ltd., China Aluminum International Engineering Corporation Limited, Huadian Fuxin Energy Corporation Limited. These IPOs account for almost half of the listing value on the Hong Kong Stock Exchange so far this year.
Zhengzhou Coal Mining is a leading comprehensive coal mining and excavating equipment manufacturer in China. It is one of the few coal mining and excavating equipment manufacturers in China able to manufacture three of the four components that comprise a complete integrated coal mining and excavating system for underground coal mining, namely, hydraulic roof supports, armoured-face conveyors and roadheaders.
