King & Wood Mallesons (KWM) has acted as Hong Kong and PRC counsel to Jilin Top Trading Co. Ltd. and its subsidiary Jilin Fiber Co., Limited on the HK$475 million privatisation of Jilin Qifeng Chemical Fiber Co., Ltd., a company listed in Hong Kong. The withdrawal of listing of its H shares from the Stock Exchange has taken place today.

Partner Gary Lock commented, “We are delighted to have assisted Jilin Top Trading and Jilin Fiber in the privatisation of Jilin Qifeng. We have provided support at every stage of the deal and advised on three types of offers involved, including the H share offer, the domestic share offer and the non-H foreign share offer.”

Partner Pan Yujia said, “It is another successful transaction leveraging our integrated onshore and offshore capabilities. KWM has a strong track record of acting as both PRC and Hong Kong counsel and offering comprehensive services to our Chinese clients on their cross-border transactions. The client benefited from the convenience, efficiency and cost-effectiveness that our one-stop service delivers.”

The King & Wood Mallesons Hong Kong team was led by partner Gary Lock, supported by senior associate Ruth Lau and associate Stephanie Pui. The PRC team was led by Shenzhen-based partner Pan Yujia, supported by associate Yao Tingting.

Jilin Qifeng Chemical Fiber Co., Ltd. is a China-based company engaged in production and sale of carbon fiber and acrylic fiber products.