King & Wood Mallesons acted as Hong Kong counsel to the Sole Sponsor in the initial public offering (IPO) of Putian Communication Group Limited (Putian Communication Group, Stock Code: 1720).

On 9 November, Putian Communication Group launched its IPO on the Main Board of the Hong Kong Stock Exchange (HKSE). The IPO comprised a total of 275 million shares issued. Priced at HK$0.66 per share, the IPO raised a net amount of approximately HK$146.7 million.

Putian Communication Group is a well-established and fast growing communication cable manufacturer and structured cabling system product provider based in Jiangxi Province, the PRC. Putian Communication Group was ranked 10th among PRC communication copper cable manufacturers in terms of sales revenue of communication copper cables in 2016.

The KWM team was led by corporate & securities partner Anthony Wan and supported by corporate & securities partner Christine Chen, registered foreign lawyers Annie Shen and Lu Tan, associates Candy Tse and Siyu You, legal assistant Wallace Wong as well as paralegal Kevin Tian.