DLA Piper has advised China Unienergy Group Limited (China Unienergy) on its listing and global offering of shares on the Main Board of the Hong Kong Stock Exchange (stock code: 1573). The total offering size is approximately HK$200 million and shares commenced trading today.

China Unienergy is a profitable anthracite coal producer based in Guizhou, a southwest province in China. The company was established in 2011 and has since been engaged in the extraction and sale of anthracite coal. It plans to use the proceeds on the acquisitions of coal mines with high quality anthracite coal reserves in Guizhou Province, the construction and upgrade of its other coal mines, research and product development on new product and technologies, and general corporate purposes. Haitong International Capital Limited is the Sole Sponsor while Haitong International Securities Company Limited and China Merchants Securities (HK) Co., Limited are the Joint Bookrunners and Joint Lead Managers. The successful listing and offering of China Unienergy is DLA Piper Hong Kong office's second successful IPO transaction this year, despite very challenging and volatile market conditions.

The DLA Piper team was led by Corporate partner Melody He-Chen. Melody said: "China Unienergy is one of the very few coal mining companies that have successfully listed on the Main Board of the Hong Kong Stock Exchange in recent years. The company enjoys a significantly higher than average profitability due to its high quality anthracite coal reserves and technological updates of its coal mines. Despite the additional listing requirements for natural resource and mining companies, we were able to execute this IPO transaction on a very accelerated timetable of less than 5 months. This has demonstrated our strong execution capability, as well as our strong commitment to the client. It has been a pleasure working with the company and its team and I wish their business all the success."

Melody was assisted by of counsel Janny Tai, associates Maisie Yeung and Michael Ho, legal officer Christine Chen and trainee solicitors Alice Leung, Gary Chan and Ken Chau, as well as legal assistants Samuel Li and Tuo Jiang (all Corporate, Hong Kong). Hong Kong corporate partner Mike Suen also provided technical support to the transaction.

Jingtian & Gongcheng advised China Unienergy as to PRC law. Sullivan & Cromwell (Hong Kong) LLP and Han Kun Law Offices advised the Sole Sponsor.