LAWFUEL – The Legal Newswire – Frankfurt am Main, July 6,2007 – Dewey …

LAWFUEL – The Legal Newswire – Frankfurt am Main, July 6,2007 – Dewey Ballantine LLP, a leading international law firm advised the underwriters, Sal. Oppenheim jr. & Cie. Kommanditgesellschaft auf Aktien, BOCI Asia Limited and CLSA Litmited, in the initial public offering of ZhongDe Waste Technology AG on the regulated market (Prime Standard) of the Frankfurt Stock Exchange. In connection with the initial public offering, approximately 4.2 million shares were offered in a public offering in Germany and Luxembourg and in an international private placement outside the United States in accordance with Regulation S under the US Securities Act of 1933. The offer price was set at the upper end of the price range and the offering was approximately 13.5 times oversubscribed. The gross proceeds from the offering, assuming full exercise of the greenshoe option, will amount to approximately €109 million.

ZhongDe Waste Technology Group designs, manufactures and installs pyrolytic, grate and rotary kiln waste incinerators for the disposal of solid medical, municipal and industrial (including hazardous) waste in China and considers itself to be one of the leading suppliers of small and mid-sized solid waste incinerators in China. Since 1996 the ZhongDe Waste Technology Group has sold more than 170 waste incinerators to clients in 13 provinces throughout China, of which 112 waste incinerators were sold in the last three financial years. In 2006, the Group generated revenues of approximately €19 million and a net profit of € 8 million.

The initial public offering was led by Frankfurt partner Matthias von Oppen and supported by partners Joseph Marx and Philipp von Ilberg from Dewey Ballantine’s Frankfurt office and Sharon Mann from the Beijing office. Additional team members included associates Dr. Christine Dausend from Frankfurt and Xingue Feng from the Beijing.

Commenting on the transaction, partner Matthias von Oppen said: “Building on the success of our international capital markets team which recently advised on two SEC registered initial public offerings and Nasdaq listings for Chinese companies, we are delighted that we now have the opportunity to build our own track record for Chinese companies here in Germany”.


Notes to the Editors

Advisors to the Underwriters led by Sal. Oppenheim jr. & Cie. Kommanditgesellschaft acting as Global Coordinator and Sole Bookrunner- Dewey Ballantine, Frankfurt am Main: Matthias von Oppen (Lead Partner); Joseph Marx (Partner, US law); Philipp von Ilberg (Partner, capital markets), Dr. Christine Dausend (Associate, capital markets)

Dewey Ballantine, Peking: Sharon Mann (Partner, corporate law); Xinyue Feng (Associate, corporate law).

Sal. Oppenheim jr. & Cie. Kommanditgesellschaft auf Aktien, Köln: Dr. Gregor Garten (legal department)

Further Information – The banking and capital markets practice of the Frankfurt office of Dewey Ballantine regularly advises clients on initial public offerings and secondary offerings. In recent months, Dewey Ballantine advised, among others, CompuGROUP Holding AG, Smartrac N.V., and Dresdner Factoring in their initial public offerings and a selling shareholder in the initial public offering of Symrise AG. The main advisory focus of the Frankfurt office lies in Tax Law, Banking and Finance, Capital Markets Law, Asset Management, Corporate and M&A and Private Equity.

About Dewey Ballantine

Dewey Ballantine LLP, an international law firm with 550 lawyers located in New York, Washington, D.C., Los Angeles, East Palo Alto, Austin, Charlotte, London, Warsaw, Frankfurt, Milan, Rome and Beijing, was founded in 1909. Through its network of offices, the firm handles some of the largest, most complex corporate transactions, litigation and tax matters in areas such as M&A, private equity, project finance, corporate finance, corporate reorganization and bankruptcy, antitrust, intellectual property, sports law, structured finance and international trade. Industry specializations include energy and utilities, health care, insurance, financial services, media, consumer and industrial goods, consumer electronics, technology, telecommunications and transportation.

If you would rather not receive future email messages from Dewey Ballantine LLP, let us know by clicking here.
Dewey Ballantine LLP, 1301 Avenue of the Americas, New York, NY 10019 United States

Scroll to Top