Hong Kong, 15 June, 2005 – Baker & McKenzie’s securities team in Hong Kong and Beijing recently advised the joint global coordinators, China International Capital Corporation Limited, Deutsche Bank and Merrill Lynch, on the US$2.9 billion global offering of China Shenhua Energy Company Limited (“China Shenhua”). The shares commenced trading on the Hong Kong Stock Exchange on 15 June.
China Shenhua is the leading integrated coal-based energy company, focusing on the coal and power businesses in China. It is the only coal-based energy company in China that owns and operates a large-scale integrated coal transportation network, which consists of dedicated rail lines and port facilities. It is the largest coal producer and the largest export coal producer in China. Post-listing, China Shenhua will become the second largest listed coal company and the fifth largest publicly listed coal producer in the world.
As of the listing date, China Shenhua’s IPO is the largest IPO globally in 2005.
The Baker & McKenzie team was led by partner, CY Leung, and assisted by associates PH Chik and Raymond Wong.
Commenting on the deal, CY Leung said, “We are delighted to have acted for the joint global coordinators on this landmark offering for the largest coal company in China. Baker & McKenzie’s involvement in this high profile IPO transaction fortifies our leading position in the area of PRC and Hong Kong listings and fund raisings. We listed the first ever H-share company, Tsingtao Brewery, back in 1993, and have since completed over 30 listings of both H-share and red chip companies on the Hong Kong Stock Exchange, including industry leaders like Air China, China Life, China Shipping Container Lines, PetroChina, Chalco and Huaneng Power. This, coupled with our experience of having completed over 100 IPOs in Hong Kong, positions us strategically for the next wave of IPOs by major PRC companies as the restructuring of the Chinese economy intensifies.”