China Gold is first dual-listing in HK since rule changes
December 14, 2010 | BY
clpstaff &clp articlesToronto Stock Exchange-listed China Gold International Resources (China Gold) has raised US$309 million from its initial public offering (IPO) on the Hong…
Toronto Stock Exchange-listed China Gold International Resources (China Gold) has raised US$309 million from its initial public offering (IPO) on the Hong Kong Stock Exchange (HKSE). In addition, it has acquired Jiama Mine for US$742 million. China Gold is the first dual-listing to be completed since the implementation of the new changes to Chapter 18 of the HKSE's Listing Rules in June 2010.
China Gold is controlled by China National Gold, the country's largest gold producer. Jiama Mine is one of China's largest copper-polymetallic mines.
A Hong Kong-based Morrison & Foerster team led by Ven Tan and Gregory Wang advised China Gold on Hong Kong and US law matters. Haiwen & Partners and Goodmans served as PRC and Canadian counsel to the issuer and acquirer. The underwriters of the IPO were represented by Skadden Arps Slate Meagher & Flom as to US law, Commerce & Finance Law Offices as to PRC law, and Lang Michener as to Canadian law.
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