Sanhua Intelligent Controls, the world’s largest manufacturer of refrigeration and air conditioning components, has officially listed on the HKEX on 23 June, raising around HKD9.3 billion. Clifford Chance, T&C Law Firm, Linklaters and Jingtian & Gongcheng provided legal advice to parties involved in the listing.
Following last week’s Foshan Haitian Flavouring and Food IPO, which raised HKD10.1 billion, Sanhua Intelligent Controls became another major enterprise to achieve an “A+H” listing. Clifford Chance counselled on Hong Kong and US law, led by partners Jean Thio and Xiang Tianning, who co-ordinated a team from their offices in Beijing, Hong Kong and Shanghai. T&C Law Firm advised on PRC law, with partners Xu Chunhui and Huang Lifen led the team.
On the underwriting side, China International Capital Corporation and Huatai International acted as joint sponsors and overall co-ordinators, with Linklaters advising on Hong Kong and US law, led by partners Christine Xu and Lipton Li. Jingtian & Gongcheng counselled on PRC law.
The funds raised from this HKEX IPO will primarily be used for global research and development, innovation, the construction of new factories in China and expanding overseas production capacity. In 2005, Sanhua Intelligent Controls listed on the SZSE.
