Baker McKenzie has acted for the joint sponsors and underwriters on the successful global offering and listing of Jiangsu New Vision Automotive Electronics Co., Ltd. (“New Vision”) on the Main Board of the Hong Kong Stock Exchange (stock code: 2632), its H shares commence trading today.
New Vision is an award winning and fast growing Chinese developer and manufacturer of advanced automotive visual interaction technologies, specializing in head up displays (W HUD and AR HUD), camera monitoring systems (CMS), automotive safety systems (Transparent A-Pillars), and transparent window display solutions designed to elevate in car digital experiences. Proceeds from the IPO will mainly be used for production line expansion, automation and intelligentization upgrade, research and development and technological capabilities enhancement as well as existing solutions upgrade and new products development based on homologous technologies.
This transaction was led by Hang Wang, chief representative of Baker McKenzie Beijing office and the co-chair of China Capital Markets Practice and Bing Han, partner at FenXun Partners*, other team members include Sheng Chen^ (Registered Foreign Lawyer, Capital Markets), Phoebe Wang (Senior Associate, Capital Markets), Pan Yaomin, Serena Shao, Robin Weng, Xiaoping Xu and Tina Teng (Associates, Capital Markets).
Commenting on the transaction, Hang Wang said: “We are delighted to support the sponsors and underwriters on this landmark listing. New Vision operates in one of the most dynamic and fast moving segments of the automotive technology ecosystem. Our involvement in this significant offering is a testament to our team’s depth of experience and capability in advising on complex IPOs involving cutting edge technology companies. We look forward to continuing to support companies as they navigate the evolving regulatory, strategic, and commercial landscape in Hong Kong and Mainland China.”
Haitong International Capital Limited and CITIC Securities (Hong Kong) Limited acted as the joint sponsors in this transaction; Haitong International Securities Company Limited and CLSA Limited acted as the sponsor-overall coordinators; Haitong International Securities Company Limited, CLSA Limited and BOCI Asia Limited acted as the Overall Coordinators.
Baker McKenzie is one of the leading firms for complex transactions, providing strategic advice on deals involving the world’s leading financial institutions and multinational companies. The Firm regularly advises target companies, offerors, selling shareholders and financial advisers on the acquisition and disposal of companies listed on stock exchanges in key major financial centers, as well as issuers on their proposed listing and fund-raising activities in different jurisdictions. With many of its lawyers enjoying established working relationships with local regulators in Hong Kong and other key markets, the Firm is able to guide clients through all stages of the process. This includes providing valuable insights on regulatory developments that could impact the value and feasibility of cross-border transactions, as well as on ongoing compliance issues. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades. Moreover, the team has extensive experience in advising clients on cross-border capital fund raising under different schemes, including the Shanghai-London Stock Connect and the China-Switzerland Stock Connect.
*Baker McKenzie established a joint operation office with FenXun in China as Baker McKenzie FenXun, approved by the Shanghai Justice Bureau in 2015.
^ Registered Foreign Lawyer