King & Wood Mallesons advises Levima Advanced Materials on its A-share listing

On 8 December 2020, Levima Advanced Materials Corporation (Stock Code: 003022) landed and issued 147,360,000 A-shares at RMB 11.46 each on the SME Board of Shenzhen Stock Exchange, raising a total amount of RMB 1,688,745,600. This IPO is another typical example of a Hong Kong-listed company's spin-off and separate domestic listing of its subsidiary.

As the main subsidiary of Legend Holdings Corporation in the new materials field, Levima Advanced Materials is a high-tech enterprise engaged in the R&D, manufacturing and sales of advanced polymer materials and specialty chemicals. The company received a strategic investment from Chinese Academy of Sciences Holdings Co, Ltd., a state-owned asset management company affiliated to the Chinese Academy of Sciences, in May 2017.

As the issuer's counsel, King & Wood Mallesons (KWM) provided comprehensive, targeted, and efficient legal services, particularly in the Hong Kong law related issues and responses to spin-off related issues, throughout the entire listing process. The KWM team was well recognized by the client and other intermediary teams for professional advice and effective solutions.

This project was led by partners Zhou Ning, Gong Mulong, and Fan Lingli, and supported by Fan Qihui, Zhou Yihang, Qian Jiazhen, and Li Yaolin.