Oil IPO raises US$410 million

April 01, 2008 | BY

clpstaff

Honghua Group, the largest onshore oil rig manufacturer in China, raised US$410 million from its Hong Kong IPO and Rule 144A / Regulation S global offering.…

Honghua Group, the largest onshore oil rig manufacturer in China , raised US$410 million from its Hong Kong IPO and Rule 144A / Regulation S global offering. The oil maker sold 25% of its enlarged share capital. Herbert Smith advised on both Hong Kong and US laws. Honghua Group was advised by Arculli Fong & Ng on matters of Hong Kong law, while Latham & Watkins advised on US law. King & Wood advised on PRC law, while Appleby advised on Cayman Islands law.

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