LawFuel.com – International law firm Freshfields Bruckhaus Deringer has advised the underwriters on the global offering and listing of HK Electric Investments on the Hong Kong Stock Exchange, which commenced trading today.
The firm also advised lenders on the provision of two syndicated loans (worth a cumulative total of approximately US$4.8bn) in connection with the listing.
The gross proceeds from the IPO were US$3.1bn, making it the largest business trust listing to date in Hong Kong.
HK Electric Investments is the first fixed single investment trust in Hong Kong with a focus on the power industry. Its principal operating subsidiary, The Hongkong Electric Company, Limited, is one of the world’s longest established utility companies and the sole electricity provider to Hong Kong Island and Lamma Island.
The Freshfields team was led by corporate partner Grace Huang, US corporate partner Ken Martin and finance partner David Winfield.