PRC marble mining company debuts in Hong Kong
March 24, 2011 | BY
Candice MakPRC marble mining operator, China Kingstone Mining Holdings (China Kingstone) had launched its initial public offering (IPO) on the Hong Kong Stock Exchange.…
PRC marble mining operator, China Kingstone Mining Holdings (China Kingstone) had launched its initial public offering (IPO) on the Hong Kong Stock Exchange. The IPO and rule 144A/Regulation S placement raised HK$1.3 billion (US$167 million).
The issuer has operations in Sichuan province and is the largest marble mine operator. It was listed under Chapter 18 of the listing rules. Five cornerstone investors bought a total of US$48 million of share in the offering and the sponsor was Citigroup Global Markets Asia.
A Greater China-based team from Orrick Herrington & Sutcliffe, led by Edwin Luk and Allen Shyu, represented China Kingstone on Hong Kong and US law aspects. Commerce & Finance Law Offices acted for the issuer as to PRC law. Jingtian & Gongcheng and Skadden Arps Slate Meagher & Flom advised the underwriters as to PRC, and Hong Kong and US law respectively.
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