Appleby has previously acted for China Everbright Water in respect of its RMB-denominated corporate bonds issuance in 2017.
The company is currently listed on the Mainboard of Singapore Exchange Securities Trading Limited and is a leading integrated water environmental solutions provider in the PRC, providing a comprehensive range of environmental water services. China Everbright Water is the largest Central State-Owned Enterprise operating in the wastewater treatment industry in the PRC, as well as the third largest wastewater treatment service provider in the Bohai Economic Rim in terms of treatment capacity in 2017. It is also one of the top 10 integrated water resources solutions providers in the PRC in terms of 2017 market share.
China Everbright Water’s listing on the Hong Kong Stock Exchange will give the company a dual primary listing status in both Singapore and Hong Kong, further enhancing its business profile in Hong Kong and the PRC. It will also strengthen its ability to attract new customers, business partners and strategic investors as well as to recruit, motivate and retain key management personnel for the group’s business. The Hong Kong Stock Exchange offers direct access to the international capital market and will enhance China Everbright Water’s fund-raising capabilities and broaden its shareholder base. In addition, the Shanghai and Shenzhen Stock Connect programme between Mainland China and Hong Kong will also allow mainland investors to invest into the company through the programme upon qualification.
The Appleby team was led by Co-Managing Partner and Local Corporate Group Head Judy Lee and Partner Paul Cheuk, supported by Legal Executive Connie Wu.
Judy commented “We were pleased to once again provide Bermuda counsel to China Everbright Water and work closely with the expert team at Herbert Smith Freehills and Jones Day on this matter, further cementing the team’s reputation as leading specialists for IPO work”.
