Chinese oil company debuts in Hong Kong
January 24, 2011 | BY
clpstaff &clp articlesPRC-based MIE Holdings Corporation (MIE) has launched its initial public offering (IPO) on the Hong Kong Stock Exchange. MIE raised HK$1.29 billion (US$166…
PRC-based MIE Holdings Corporation (MIE) has launched its initial public offering (IPO) on the Hong Kong Stock Exchange. MIE raised HK$1.29 billion (US$166 million) after the greenshoe option was exercised. The issuer is an independent upstream oil company that specialises in the development and operation of oil and gas properties. It currently operates three oil fields in the Songliao Basin.
The joint bookrunners and joint lead managers of the IPO were JP Morgan Securities, Boci Asia and Deutsche Bank.
Hong Kong and US law counsel to MIE was a Hong Kong-based Latham & Watkins team led by William Woo, David Zhang, Olivia Wong and Benjamin Su. Zhong Lun Law Firm advised the issuer as to PRC law aspects, and Maples and Calder served as offshore counsel. Acting for the underwriters were Shearman & Sterling and Jingtian & Gongcheng.
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