PRC wheel maker launches IPO in New York
May 19, 2011 | BY
clpstaff &clp articlesChina Zenix Auto International (China Zenix), a PRC-based commercial vehicle wheel manufacturer, has debuted its initial public offering on the New York…
China Zenix Auto International (China Zenix), a PRC-based commercial vehicle wheel manufacturer, has debuted its initial public offering on the New York Stock Exchange. The Zhangzhou-based company raised approximately US$77.4 million and it plans to use the proceeds into expanding and building factories, and other general corporate purposes.
The underwriters in the transaction were Morgan Stanley, William Blair & Co and Oppenheimer & Co.
China Zenix was represented by a Hong Kong-based Ropes & Gray team led by Paul Boltz as to US law aspects and by Jingtian & Gongcheng on PRC law. Walkers also advised the issuer as BVI counsel, its team led by Denise Wong. A Hong Kong-based Sullivan & Cromwell team led by Chun Wei and Jun He Law Offices advised the underwriters.
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