LG helps Jiangxi Copper Raise Hk$880m
10 August 2005
China's largest producer of copper places 231 million new H shares
LG, the London-based law firm, has advised Jiangxi Copper Co Ltd ("Jiangxi Coppper") - China's largest producer of copper - in connection with its sale of HK$880m (approximately £65m) worth of shares to investors.
Jiangxi Copper placed 231 million new H shares on Monday 25 July, representing 16.7 percent of its enlarged H-share capital, at HK$3.813 each. The Company has A shares listed on the Shanghai Stock Exchange and H shares with a primary listing on the Hong Kong Stock Exchange and a secondary listing in London.
Victoria Younghusband, a corporate finance partner at LG led a team advising Jiangxi Copper on the UK aspects of its placing of H Shares. The Company plans to use proceeds from the sale for expansion and potential acquisitions.
Victoria Younghusband said: "We are delighted to be advising Jiangxi Copper on this strategically important placing. They are not only a leading Chinese company, but a significant player in the natural resources market, with China being the largest consumer of copper in the world."
Hong Kong law firm David Lo & Partners advised the Company on the placing and Simmons and Simmons' Hong Kong office advised the placing agent, Citigroup Global Markets Hong Kong Futures and Securities Limited.
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Victoria Younghusband
+44(0)20 7759 6612