Orrick Advises Innovative Chinese Solar Wafer Manufacturer in its US$67 Million Hong Kong Stock Exchange IPO

Hong Kong – LawFuel.com – American Law Newswire – Orrick, Herrington & Sutcliffe LLP (Orrick) advised Comtec Solar Systems Group Limited (Comtec), a China-based manufacturer of high-quality monocrystalline solar ingots and wafers, in its US$67 million initial public offering of 250 million shares (before exercise of the over-allotment option) on the Main Board of the Hong Kong Stock Exchange, with international share placements under Rule 144A and Regulation S. The listing took place on October 30, 2009.

Based in Shanghai, Comtec is a leading innovator of solar wafer technology in China and markets its products to customers in Canada, Germany, India, Singapore, Taiwan, Thailand and the United States. Comtec is raising capital to expand its production capacity, purchase raw materials and invest in R&D efforts. ICBC International and Macquarie are acting as joint global coordinators, joint book runners and joint lead managers.

A team of capital markets lawyers from Orrick’s Hong Kong and Shanghai offices, led by partners Edwin Luk and David Cho, represented Comtec.
“We are delighted to have successfully advised Comtec in its Hong Kong IPO and international placement to U.S. investors,” commented Edwin Luk. “Our lawyers provide comprehensive support to Chinese companies interested in raising funds in both the Hong Kong and U.S. capital markets. As the markets improve, we expect to see many more of our Chinese clients actively exploring opportunities in both regions.”

David Cho added: “Orrick has a market-leading worldwide energy practice and we represent industry leaders globally, as well as in Asia. We believe that Comtec’s expansion through its global public offering is an important development in the renewable energy sector in China. As the demand for renewable energy continues to increase, we should see more solar energy and renewable energy companies raising money through the international public markets.”


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