CMS associated firm Lau Horton & Wise acted for sole sponsor Kingsway Capital Limited on the IPO of Perennial Energy Holdings (Perennial). The project was successfully completed, and the company has listed on The Hong Kong Stock Exchange on 12 December.
The value of the offering exceeded HK $200 million and is the first transaction of its kind for our Hong Kong associated firm Lau Horton & Wise.
Perennial currently operates two underground coal mines in the Guizhou Province of China and aims to utilise part of the net proceeds from its Share Offer to fund a production capacity expansion plan due for completion in late 2019.
The team was led by partner Shirley Lau and supported by Of Counsel Mandy Yim, associate Vivian Tse and paralegal Kit Yu.
Caryn Penley, joint Managing Director for Asia and the Middle East for CMS comments: “It is great to see the continuing momentum of the team in Hong Kong, this our first IPO evidencing the strength and recognition of our corporate offering in the region.”