Solar maker launches Hong Kong IPO

    July 22, 2011 | BY

    clpstaff &clp articles

    Shunfeng Photovoltaic International (Shunfeng) raised HK$433 million (US$55.6 million) through its global offering and listing on the Hong Kong Stock Exchange.…

    Shunfeng Photovoltaic International (Shunfeng) raised HK$433 million (US$55.6 million) through its global offering and listing on the Hong Kong Stock Exchange. PRC-based Shunfeng is a manufacturer of solar cells and solar products. In particular, its business focuses on the development, manufacturing and marketing of monocrystalline solar cells. The company plans to use the proceeds of the offering to expand its production capacity and as working capital and for general corporate purposes.

    The sole sponsor of the offering was Macquarie Capital Securities. The joint global coordinators and joint bookrunners were CMB International Capital and Daiwa Capital Markets Hong Kong.

    Advising Shunfeng were Baker & McKenzie, King & Wood and Conyers Dill and Pearman as to US and Hong Kong, PRC and offshore law aspects. The underwriters were represented by Allen & Overy and Llinks Law Offices.

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