King & Wood Mallesons (KWM) advised Fangda Carbon New Material Co., Ltd. (Fangda Carbon, SSE:600516, SIX: FDCB) on its offering and listing of 22,000,000 global depository receipts (GDRs) on the SIX Swiss Exchange (SIX). The A-Shares of Fangda Carbon are listed on the Shanghai Stock Exchange. Priced at US$8.63 per GDR, with each GDR representing an interest in 10 A-Shares of Fangda Carbon, this offering raised a total of approximately US$190 million. GDRs of Fangda Carbon were listed on the SIX on 15 March 2023.
Fangda Carbon is a world-leading integrated carbon materials producer headquartered in Lanzhou, Gansu Province. The company’s product offerings include graphite electrodes, carbon blocks, isostatic graphite and iron ore concentrates.
KWM Hong Kong office acted as the US and English law counsel for Fangda Carbon. This offering was led by partners Corey Zhang, Richard Mazzochi and Jia Liu with support from Alice Ma, Marcel Fan, Helen Shum, Yuyang Lin and Emma Zhang.
Corey Zhang said: “We are honoured to act as the deal counsel for Fangda Carbon, a major subsidiary of China Fangda Group, on its debut offshore capital raising via the expanded China-Europe Stock Connect scheme. Together with our Beijing team who acted as PRC counsel for the Swiss GDR offerings by Keda Industrial Group Co., Ltd. and Jiangsu Eastern Shenghong Co., Ltd., KWM is committed to providing one-stop legal solutions to PRC enterprises for their increasingly diverse and complex offshore listing endeavours.”
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