Clean energy company Amber Energy has completed its public offering and share placement on the main board of the Hong Kong Stock Exchange.
Offering a total of 100 million shares, or approximately 25% of the total issued share capital of the company, the public offer was 1,247 times over-subscribed indicating that the market is heating up for more fund raisings.
Hong Kong-based Barbara Mok and Shanghai-based Alex Zhang led the Jones Day team advising Amber. King & Wood provided the energy company with PRC law advice with Peng Mu and Junpeng Lai leading its team. Conyers Dill & Pearman’s Lilian Woo assisted with Cayman law matters.
Piper Jaffray acted as sole sponsor, book-runner and lead manager on the listing, with a DLA Piper team led by Dr Liu Wei and Esther Leung and featuring Mike Suen, Amanda Li and Emen Cheng – advising on Hong Kong law and a Jingtian & Gongcheng team – including Chen Zejia and Huang Jia – advising on PRC law.
Trading of Amber’s shares on the HKEx commenced on July 10. Due to the record high oversubscription, a claw-back mechanism was initiated under which the number of shares available for the public offer was increased.