Baker McKenzie has acted as the Hong Kong legal advisor to the sole sponsor, joint overall coordinators and underwriters in connection with the global offering and listing of Shanghai REFIRE Group Limited ("REFIRE") on the Main Board of the Hong Kong Stock Exchange. The company’s H shares (stock code: 2570) commence trading today.
REFIRE is a leading hydrogen technology company, with full-service capabilities covering the entire industrial chain in hydrogen industry. The company focuses on the design, development, manufacture and sales of hydrogen fuel cell systems, hydrogen production systems and related components, as well as on providing fuel cell engineering and technical services. Moreover, REFIRE has strategically positioned itself in the upstream hydrogen production equipment sector, possessing in-house research and development capabilities for proton-exchange membrane (or PEM) and alkaline (or ALK) electrolysis products, with industry-leading core technical indicators.
The deal team, comprising lawyers from Baker McKenzie and FenXun, was led by Partners Wang Hang from Baker McKenzie and Han Bing from FenXun. Other team members mainly included Baker McKenzie Senior Associate Daisy Chen, and FenXun Partner Rachel Wang and Associates Charlotte Cao, Yu Liuyang, Gao Xin and Crystal Min. FenXun is Baker McKenzie's joint operation platform partner in China.
Commenting on the transaction, Wang Hang, who co-chairs Baker McKenzie's Capital Markets Practice in China, said: "We are very pleased to have assisted the sole sponsor and underwriters on this important transaction, which has provided REFIRE with the funding to support its growth strategy. This deal plays to our strength and track record in equity capital markets deals. We look forward to continuing to bring our strong local and international capital markets capabilities to the table and support our clients with their future transactional needs and fund-raising activities as Hong Kong's capital market activities gather steam."
China International Capital Corporation Hong Kong Securities Limited has acted as sole sponsor, joint overall coordinator, joint global coordinator, joint bookrunner and joint lead manager in this deal. CMB International Capital Limited and BNP Paribas Securities (Asia) Limited have acted as joint overall coordinators, joint global coordinators, joint bookrunners and joint lead managers in this deal.
Baker McKenzie is one of the leading firms for complex transactions, providing strategic advice on deals involving the world’s leading financial institutions and multinational companies. The Firm regularly advises target companies, offerors, selling shareholders and financial advisers on the acquisition and disposal of companies listed on stock exchanges in key major financial centers, as well as issuers on their proposed listing and fund-raising activities in different jurisdictions. With many of its lawyers enjoying established working relationships with local regulators in Hong Kong and other key markets, the Firm is able to guide clients through all stages of the process. This includes providing valuable insights on regulatory developments that could impact the value and feasibility of cross-border transactions, as well as on ongoing compliance issues. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades. Moreover, the team has extensive experience in advising clients on cross-border capital fund raising under different schemes, including the Shanghai-London Stock Connect and the China-Switzerland Stock Connect.