Leading global law firm Herbert Smith Freehills has advised Zhejiang Cangnan Instrument Group on its H Share listing on the Hong Kong Stock Exchange.
Zhejiang Cangnan Instrument Group is a leading precision measurement instrument manufacturer in China with over 40 years' industry experience. As China increases its gas consumption in recent years in replacement of coal, the company has recorded significant growth backed by its advanced proprietary technology and has expanded into residential gas meters and nuclear power precision equipment.
ABCI Capital Limited, a Hong Kong incorporated and wholly owned subsidiary of Agricultural Bank of China, was the sole sponsor of the listing.
"We are delighted to have assisted Zhejiang Cangnan Instrument Group on its Hong Kong listing," said Beijing partner Tom Chau. "In one of the busiest years for Hong Kong listings, the strength of our Greater China team has now assisted a number of Mainland companies and banking advisers in listing on the exchange."
Zhejiang Cangnan Instrument Group's listing closely follows a number of Hong Kong listings on which the firm's Greater China equity capital markets team advised in 2018, including last week's Hong Kong listing of the Chinese biopharma company Shanghai Junshi Biosciences, the first "3+H" issuer achieving dual listing on HKSE and NEEQ and the first H share issuer to take advantage of the exchange's newly relaxed listing rules for pre-revenue biotech companies.
Tom and partner Zhong Wang led a cross-office team advising Zhejiang Cangnan Instrument Group, assisted by senior associates Lawrence Wang, Isaac Chen, Sherry Lai, legal specialist Kathy Zhang and legal analysts Ian Zhong and Iris Zhu.