Advised HZCTECH in its application to the China Securities Regulatory Commission for a proposed issuance of additional stock to potentially raise up to an approximate RMB 0.37 billion

In a multi-jurisdiction capital markets and stock exchange matter in conjunction with Grandall (Hangzhou) Law Firm (“Grandall Hangzhou”) acting as PRC law advisers and overall instructing counsel, Kennedy Chen of Harry Elias Partnership had been appointed as Singapore adviser and Singapore management/transaction counsel to Hangzhou Changchuan Technology Co., Ltd. (“HZCTECH”), in HZCTECH’s application to the China Securities Regulatory Commission (“CSRC”) for the approval of a proposed issuance of additional stock to a specific list of special/institutional investors, under which up to RMB 0.37 billion (approximately USD 57 million) may potentially be raised.  

Kennedy had been Singapore adviser to HZCTECH in this endeavour, responsible for conducting necessary due diligence on HZCTECH’s Singapore subsidiary (the “First Subsidiary”), and overall managing concurrent due diligence of the wholly-owned subsidiaries of such First Subsidiary in Korea, the Philippines and Malaysia.

HZCTECH had been successful in the application to the CSRC, and the subsequent additional stock issuance is ongoing as at the date of this publication. The Harry Elias Partnership team is heartened to be able to have worked with Mr Xueyuan Shi and Ms Chaohui Ying of Grandall Hangzhou.

HZCTECH is listed on the Shenzhen Stock Exchange. As a prestigious supplier of integrated circuit equipment (including semiconductor technology), its global footprint spans Singapore, Malaysia, Japan and other countries, and is a market leader in the PRC and Greater China region’s integrated circuit equipment industry.