Chinese packaging company goes public in Hong Kong
November 30, 2011 | BY
clpstaff &clp articlesPRC-based plastic packaging manufacturer Jin Bao Bao Holdings (Jin Bao Bao) has listed on the Hong Kong Stock Exchange. It raised approximately HK$62.5…
PRC-based plastic packaging manufacturer Jin Bao Bao Holdings (Jin Bao Bao) has listed on the Hong Kong Stock Exchange. It raised approximately HK$62.5 million (US$8 million).
The issuer plans to use the majority of its net proceeds from the initial public offering (IPO) to establish a factory in Wuhu City. The rest of the proceeds will go to repaying bank loans, general working capital and other corporate purposes. The sole sponsor for the IPO was Cinda International Capital.
Jin Bao Bao's advisers were Loong & Yeung as to Hong Kong law aspects and Shu Jin Law Firm as to PRC law aspects. The issuer's Cayman Islands counsel was Appleby. Representing the sponsor and underwriters on Hong Kong and Chinese law were DS Cheung & Co and Deheng Law Firm, respectively.
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