King & Wood Mallesons and Baker McKenzie have advised Yankuang Energy Group Company on its HKD5 billion H-share placement on the HKEX.
Yankuang Energy’s sale of 285 million shares is the largest H-share placement this year to date. It is also the first H-share placement by an “A+H” listed company since a new rule was enforced last year to regulate PRC companies listing across the border.
King & Wood Mallesons partners Tang Lizi, Han Jie, Sun Yong and Yu Rui led the team to advise the issuer on PRC law.
Partner Wang Hang led the Baker McKenzie team, which included partner Chen Sheng, acting as Hong Kong and US law counsel. Lawyers from FenXun Partners, a joint operation firm with Baker, were also part of the team.
Yankuang Energy is a leading coal-mining company in China that has been listed on stock exchanges in Shanghai, Hong Kong, New York and Australia.
The coal miner said proceeds earned from this placement would be used to repay the company’s debts and to replenish its operating fund.
