Leading international law firm Herbert Smith Freehills has advised CICC and CMB International as joint sponsors and underwriters of Lygend Resources & Technology Co., Ltd. (02245.HK)’s mainboard listing on the Stock Exchange of Hong Kong. Lygend is Hong Kong's 6th largest IPO in 2022.
Lygend trades and produces nickel products. The company ranked first globally by nickel product trading volume in 2021, and first in China in terms of nickel ore trading volume in 2021, with a market share of 26.8% in 2021. Lygend has developed the HPAL project in Indonesia with its Indonesian partner, one of the most technically advanced nickel-cobalt compound hydrometallurgy projects worldwide. Lygend listed on 1 December 2022.
"We are delighted to have worked with Lygend, a leading company with business across the entire nickel industry value chain, on its successful listing on the Hong Kong Stock Exchange,” said Hong Kong partner Jason Sung. "We congratulate Lygend and the joint sponsors on this successful IPO and wish them continued success."
"We appreciate our clients CICC and CMB International for their trust in us on such a high-profile transaction," said Jason. "It is an honour to have worked with leading investment banks like them in global capital markets."
"Our expertise in capital markets ranges from traditional industries to innovative sectors," said Jason. "We look forward to continuing to support Chinese companies to access international investors through Hong Kong."
Herbert Smith Freehills leads the legal market in advising sponsors and underwriters on Hong Kong IPOs. The firm has advised on ten successful listings in Hong Kong for the year to date. Notably, Herbert Smith Freehills has advised Onewo Inc. (02602.HK), Lygend Resources & Technology Co., Ltd. (02245.HK), and JL MAG Rare-Earth Co., Ltd. (06680.HK), respectively the 4th, 6th and 7th largest IPO.
Jason led the team advising joint sponsors, assisted by senior associates Kris Cheung and Maisie Ko, associates Crystal Chan and Kristina Li, as well as legal assistant Kate Lam. Jin Kong, our US securities laws partner (senior registered foreign lawyer - New York, USA), together with registered foreign lawyer (New York, USA) Haiyun Chen and legal manager Hilary Chong advised on the US law aspects of the IPO. Registered foreign lawyers (New York, USA) Ariel Lin and Sean Gao also provided support.
Legal manager Marine Jin led Herbert Smith Freehills Kewei Joint Operation’s Alternative Legal Services business to provide high-efficiency solutions for verification and other document-intensive processes during the offering, assisted by legal specialist Ling Jiang and legal analyst Kate Shen.
合伙人宋子淳率领律师团队为此次上市的联席保荐人提供法律服务。香港法方面主要团队成员包括张昕(Senior Associate)、高美诗(Senior Associate)、陈念彤(Associate)、李天恩(Associate)和林乐彤(Legal Assistant)。合伙人(Senior Registered Foreign Lawyer) 孔瑾、陈海韵(Registered Foreign Lawyer)和种欢子(Legal Manager)就美国法方面提供法律服务。林苡萱(Registered Foreign Lawyer)和高炜华(Registered Foreign Lawyer)也为此次上市提供了支持。
金燊(Legal Manager)率领的科伟史密夫斐尔联营办公室替代性法律服务(ALT)联合团队在上市项目期间为招股书验证及其他文件密集型工作提供高效率的解决方案。江凌(Legal Specialist)和沈星儒(Legal Analyst)提供支持。