Conch Environment Protection, a spin-off from Hong Kong-listed Conch Venture, completed listing by way of introduction on the Hong Kong Stock Exchange. The listing was implemented through a “distribution as is” of all company shares to all shareholders of the parent company in proportion to their respective ownership, and no new shares were issued.
Conch Environment Protection, an Anhui-based industrial solid and hazardous waste management company, is the largest service provider in China, representing approximately 21.7% of the total market share, according to data from consulting firm Frost & Sullivan.
Clifford Chance partners Tianning Xiang and Fang Liu co-led the deal, with support from a team in Shanghai and Hong Kong including counsel Lorna Lyu, senior associate Xuemei Wang, associate Shiyuan Pei and registered foreign lawyer Emma Bao.
The Paul Hastings team was led by Raymond Li, global partner and chair of Greater China and corporate partners Jean Yu and Vincent Wang, with support from associates Phoebe Chow, Sara She and Jessica Wu, legal manager Albert Tang, China advisors Lilian Li and Diane Dong, and paralegal Christine Zhou.
The legal team from Zhong Lun was led by partners Anthony Zhao, Jihong Wang and William Jia and included non-equity partner Jihai Xia and associates Summer Huang, Yonghao Dong, Myron Hu, Chen Sun, and Violet Zhang.
