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Conyers advises China Resources Microelectronics Limited on its pioneering red-chip listing on the Sci-Tech Innovation Board of the Shanghai Stock Exchange, or SSE STAR Market

Conyers advised China Resources Microelectronics Limited (the “Company”/“Issuer”) on its pioneering red-chip listing on the Sci-Tech Innovation Board of the Shanghai Stock Exchange, or SSE STAR Market. We acted as the Cayman Islands and British Virgin Islands legal counsel to the Company on its initial public offering of 292,994,000 shares raising over RMB4.32 billion (US$614 million).

This IPO is of significance because it sets a few precedents in the capital market in China: it is the very first Cayman company and red-chip listing on SSE STAR Market, it is the first issuer whose par value of share is not in RMB, and it set the unseen example of exercising an over-allotment option (or commonly known as the greenshoe option) in the capital market in China at the same time.

Founded in 1999, the Company is a subsidiary of China Resources group, one of the major state-own enterprises in China. It is a leading industry player in manufacturing micro-electronic products and semiconductors, specialising in producing and distributing open foundries, integrated circuits, discrete devices, and other products. The Company also operates investment, high technology microelectronics management, and other businesses in China.

Partners Lilian Woo, Wynne Lau, Legal Manager Rowan Wu, Associate Beverly Cheung, Paralegals Sara Zou, Karen Austin and Pauline Yuen of Conyers’ Hong Kong office advised on the matter working alongside Fangda Partners and Global Law Office.

 


Lilian S.C. Woo
Partner

Hong Kong   +852 2842 9588
Mobile  +852 6469 3344


Wynne Lau
Partner

Hong Kong   +852 2842 9532
Mobile  +852 6113 6070


Rowan Wu
Legal Manager

Hong Kong   +852 2842 9554
Mobile  +852 6469 3386


Beverly Cheung
Associate

Hong Kong   +852 2842 9403
Mobile  +852 6469 3371


Sara Zou
Paralegal

Hong Kong   +852 2842 9597
Mobile  +852 9861 7613


Karen Austin
Paralegal

Hong Kong   +852 2842 9585


Pauline Yuen
Paralegal

Hong Kong   +852 2842 9418


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