Kunshan Dongwei Technology Co., Ltd. completes GDR offering and SIX Swiss Exchange listing
Niederer Kraft Frey advised Kunshan Dongwei Technology Co., Ltd. on its offering of global depositary receipts (GDRs) and SIX Swiss Exchange listing under the China-Switzerland Stock Connect.
Kunshan Dongwei, whose A Shares are listed on Shanghai Stock Exchange, sold 5,888,000 GDRs representing two A-Shares each at an offer price of USD 17.80, raising gross proceeds of approximately USD 105.0 million from the offering. Trading in the GDRs on SIX Swiss Exchange commences on 13 June 2023.
Kunshan Dongwei is a global leading electroplating equipment manufacturer mainly engaged in the research and development, design, production and sales of high-end precision electroplating equipment and its supporting equipment. Kunshan Dongwei expects to use the net proceeds from the transaction to expand its main businesses and production capacity, finance its global R&D initiatives, and for working capital and general corporate purposes.
CLSA Limited and Essence International Securities (Hong Kong) acted as joint global coordinators in connection with the offering.
The NKF team advising on the transaction was co-led by partner Philipp Haas (Corporate/Capital Markets) and associate Thiago Claro (Capital Markets), working with associate Manuel Hirlinger (Capital Markets).