Baker & McKenzie Advises on the Global Offering of Shengli Oil & Gas Pipe Holdings Limited
Deal Announcement
January 6, 2010
Hong Kong, 6 January 2010 – Baker & McKenzie recently acted as Hong Kong and US law counsel to Macquarie Capital Securities Limited in its capacity as the sole global coordinator, bookrunner, sponsor and lead manager of Shengli Oil & Gas Pipe Holdings Limited’s HK$1.58 billion / US$204 million (before exercise of the over-allotment option) global offering. The shares commenced trading on The Stock Exchange of Hong Kong Limited on 18 December 2009. Net proceeds from the global share offering will be used primarily for product diversification, to expand capacity in the design and production of LSAW, SSAW and ERW pipes.
Shengli Oil & Gas Pipe Holdings Limited is one of the largest oil and gas line pipe manufacturers in China. It focuses on the design, manufacturing, value-added processing and servicing of pipes that are used to transport crude oil, refined petroleum products and natural gas. Shengli Oil & Gas Pipe Holdings Limited is the only privately owned manufacturer among the few approved SSAW pipe suppliers to China’s major oil and gas companies.
The Baker & McKenzie team was led by partners CY Leung and PH Chik on Hong Kong law aspects and Allen Shyu on US law aspects of the global offering. The team had lead responsibility for legal documentation and drafting of the prospectus.