You are here

Herbert Smith Freehills advises JL Mag on HK$4.045 billion IPO in Hong Kong to complete A+H dual listing 史密夫斐尔律师事务所为金力永磁40.45亿港元IPO提供法律服务 助力其完成A+H两地上市

14 January 2022 | China
News

Share

Leading international law firm Herbert Smith Freehills has advised high-performance rare earth permanent magnets (REPMs) producer JL MAG Rare-Earth Co., Ltd. (06680.HK) on its Main Board listing on the Stock Exchange of Hong Kong, as a dual primary listing alongside its A shares on the Shenzhen Stock Exchange (300748.SZ).

全球领先的律师事务所史密夫斐尔作为高性能稀土永磁材料生产商江西金力永磁科技股份有限公司(06680.HK)的发行人境外律师,为其在香港联交所主板上市提供法律服务。金力永磁实现在深圳交易所(300748.SZ)和香港联交所的两地上市。

JL Mag produces high-performance NdFeB rare earth permanent magnets (REPMs), which are used in new energy vehicles and automotive parts, permanent magnetic wind turbine generators, energy-saving variable-frequency air conditioners and other sectors. In 2020, JL Mag ranked first in the world by high-performance REPM production volume with a market share of approximately 14.5%.

The IPO raised over HK$4.045 billion (approximately US$520 million), and listed on 14 January 2022. Herbert Smith Freehills also drafted the prospectus.

"We are delighted to have worked with JL Mag, a leading supplier in global new energy and energy-saving sectors, on its successful listing on the HKEX,” said Beijing partner Isaac Chen. "The company is well positioned in a booming industry during the global energy transition."

The global consumption volume of high-performance REPMs increased from approximately 34,200.0 tonnes in 2015 to 65,000.0 tonnes in 2020 at a CAGR of 13.7%, and is expected to further increase to 129,100.0 tonnes in 2025 at a CAGR of 14.7%.

"We have a robust and long record of advising on these high-profile transactions for China's high-end manufacturing companies, which are capturing opportunities in a growing market and becoming targets for global investors," said Beijing partner Zhong Wang. "We congratulate the company on this new chapter, and look forward to its continued success."

Isaac and Zhong jointly led the team advising the issuer, assisted by senior associate Sherry Lai, associates Brian Ge, Bryan Zhu and Kathy Zhang, and legal assistants Yuanyuan Yin, Aiye Jia, Emma Chen, Gallant Guo and Nan Li.

金力永磁生产高性能钕铁硼永磁材料,广泛应用于新能源汽车及汽车零部件、风力发电、节能变频空调等领域。2020年,公司的高性能稀土永磁材料产量位居全球第一,市场占有率约达14.5%。

金力永磁在本次全球发售中所得款项净额达40.45亿港元(约合5.2亿美元),所发行的股份于2022年1月14日开始在香港联交所交易。史密夫斐尔也为金力永磁上市撰写了招股书。

史密夫斐尔北京办公室合伙人陈敏(Isaac Chen)表示:“金力永磁是全球新能源和节能环保领域核心应用材料的领先供应商,我们非常荣幸为其在港交所上市提供助力。在全球能源转型的浪潮中,金力永磁在一个蓬勃发展的行业中占据了有利地位。”

全球高性能钕铁硼永磁材料的消耗量由2015年的3.42万吨增至2020年的6.5万吨,期间复合年增长率为13.7%,预计2025年将进一步增长至12.91万吨,期间复合增长率为14.7%。

北京办公室合伙人王重(Zhong Wang)表示:“中国高新技术制造企业正在快速发展的市场中捕捉机会并受到全球投资者的追捧,史密夫斐尔在为其高规格交易提供法律服务方面积累了长期过硬的经验。我们祝贺金力永磁开启新的篇章,并期待其取得更大成功。”

合伙人陈敏和王重率领律师团队为发行人提供法律服务。主要团队成员包括香港办公室黎翠芬(Senior Associate)、北京办公室葛轶(Associate)、朱步凡(Associate)、张凯西(Associate)、尹圆圆(Legal Assistant)、贾瑷烨(Legal Assistant)、陈阿婷(Legal Assistant)、郭力特(Legal Assistant)和李楠(Legal Assistant)。

See how we help our clients in

Equity Capital Markets

Learn More

Key Contacts

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