Shenzhen Senior Technology Material Co., Ltd. completes GDR offering and SIX Swiss Exchange listing

Niederer Kraft Frey advised Shenzhen Senior Technology Material Co., Ltd. on its offering of global depositary receipts (GDRs) and SIX Swiss Exchange listing under the China-Switzerland Stock Connect.

Shenzhen Senior Technology Material, whose A Shares are listed on Shenzhen Stock Exchange, sold 12,684,800 GDRs representing five A-Shares each at an offer price of USD 9.46, raising gross proceeds of approximately USD 120.0 million from the offering. Trading in the GDRs on SIX Swiss Exchange commenced on 18 December 2023.

Shenzhen Senior Technology Material is a lithium-ion battery separator manufacturer with 20 years of experience in research and development, production, and sales of lithium-ion battery separators. Shenzhen Senior Technology Material expects to use the net proceeds from the transaction to support its overseas expansion and for working capital and general corporate purposes.

Huatai Financial Holdings (Hong Kong) Limited acted as sole global coordinator and joint bookrunner for the offering, while CLSA Limited, CMB International Capital Limited and China Securities (International) Corporate Finance Limited acted as joint bookrunners.

The NKF team advising on the transaction was co-led by Capital Markets partners Philippe Weber and Daniel Bono, working with associates Thiago Claro and Manuel Hirlinger (both Capital Markets).