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Herbert Smith Freehills advises Huaneng Renewables Corp. Ltd on its privatisation from Hong Kong’s Stock Exchange / 史密夫斐尔律师事务所为华能新能源股份有限公司H股股份私有化并退市提供法律服务

18 February 2020 | Asia
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Leading global law firm Herbert Smith Freehills has advised one of China’s top power producers, Huaneng Renewables Corp. Ltd., on its voluntary delisting of its H shares on the Stock Exchange of Hong Kong. The delisting is expected to take place on 24 February 2020.

The privatisation is structured as a voluntary general offer by its parent company, China Huaneng, to acquire all the issued H shares of Huaneng Renewables followed by the delisting of the H shares from the Stock Exchange of Hong Kong.  The offer has been declared unconditional in all respects on 5 February 2020 and is expected to close on 4 March 2020.

The deal is the largest privatisation of a Chinese state-owned enterprise from the  Hong Kong exchange and the also the largest privatisation of a Hong Kong-listed energy company.

"We are delighted to have advised Huaneng Renewables on this significant transaction," said Beijing partner Tom Chau. "This is one of the first large-scale H share privatisations that will be successfully completed following the changes to the Hong Kong Takeovers Code introduced in 2018 by the Hong Kong Securities and Futures Commission in relation to delisting of Mainland China incorporated companies."

Partner Tom Chau led the team advising Huaneng Renewables, assisted by of counsel Jeremy Shen and associates Matt Li and Afra Li in Hong Kong.

 

国际知名的律师事务所史密夫斐尔为中国最大的电力供应商之一华能新能源股份有限公司(华能新能源)H股股份私有化并退市提供法律服务。华能新能源将于2月24日从香港联交所退市。

该交易由控股股东中国华能集团全面要约收购华能新能源H股股份。要约收购于2月5日全面无条件生效,预计于3月4日完成。

该交易是港交所有史以来最大的国企私有化交易,也是港交所最大的能源类公司私有化项目。

史密夫斐尔北京办公室管理合伙人邹兆麟律师表示:“我们很荣幸为华能新能源私有化交易提供法律服务。这是自香港证监会2018年修改H股要约私有化规定后,首批内地公司大型私有化项目之一。”

此次的法律服务团队由史密夫斐尔北京办公室管理合伙人邹兆麟,香港办公室高级顾问沈志良、律师李文乐和李宝卿提供协助。

Media Contact

For further information on this news article, please contact:

Sally Greig, Head of Communications, Asia

Hong Kong
Tel: 
+852 21014624

VIVIAN HUANG, COMMUNICATIONS MANAGER, CHINA

Beijing
Tel: 
+86 10 65355025