Herbert Smith Freehills has advised the joint sponsors and underwriters of the IPO and spin-off listing of China Everbright Greentech Limited on the Stock Exchange of Hong Kong Limited (Stock Code: 1257.HK) on 8 May 2017.

The joint sponsors of the HK$2.93 billion (US$376.4 million) listing were China International Capital Corporation Hong Kong Securities Limited and CEB International Capital Corporation Limited. The underwriters of the listing were China International Capital Corporation Hong Kong Securities Limited, CEB International Capital Corporation Limited, China Everbright Securities (HK) Limited, CCB International Capital Limited and China Merchants Securities (HK) Co., Limited.

China Everbright Greentech is a specialty environmental protection service provider, focused on the biomass and hazardous waste treatment industries. It has a leading position in these markets in China, with the fourth largest aggregate biomass power generation designed capacity and the third largest aggregate hazardous waste disposal designed capacity in the country for projects in operation, under construction and at the planning stage.

The company has spun off from China Everbright International Limited (CEIL), one of the largest integrated environmental solution providers in China. The deal included a preferential offering of offer shares of China Everbright Greentech to qualifying shareholders of CEIL.

Partners Matt Emsley and Siddhartha Sivaramakrishnan led the team advising the sponsors and underwriters, assisted by senior associate Jackie Chen and associates Jeremy Shen, George Wu, Lawrence Cheng, Qingqing Bu and Ronald Hui.