German law firm CMS Hasche Sigle recently advised the Frankfurt-listed Chinese company Asian Bamboo on its placement of 1.4 million shares with selected investors as part of a capital increase.
Asian Bamboo is a producer of moso bamboo stems and bamboo shoots. Bamboo stems are used primarily in scaffolding or as a material in the production of pulp and paper, as well as for floor coverings and furniture.
The gross proceeds of the issue amounted to over €43 million (US$60 million). The new funds are earmarked primarily for the leasing of additional plantations. The major shareholder, Green Resources, also sold a further one million Asian Bamboo shares from its own holdings to investors.
A team from CMS Hasche Sigle, led by Henrik Drinkuth, has been advising Asian Bamboo since the company’s IPO two years ago.
CMS Hasche Sigle has accumulated substantial experience advising Chinese companies listing on the German stock exchange, Deutsche Börse. In addition to acting as issuer’s counsel on Asian Bamboo’s flotation, the firm advised ZhongDe Waste Technology on its IPO in July 2007. The firm also advised on the IPOs of Vtion Wireless Technology in October 2009 and Joyou in March this year. The firm says it has acted as issuer’s counsel on all IPOs to date of Chinese companies on the Prime Standard of the Deutsche Börse.
