Freshfields, Fangda Partners, Allen & Overy and Commerce & Finance Law Offices have advised on electric vehicle battery supplier Rept Bettaro’s IPO on the HKEX main board.
More than 116 million shares were issued globally, raising HKD2.12 billion (USD271 million) and after the listing, Rept Battero’s market value exceeded HKD40 billion.
Partners Richard Wang and Howie Farn led the Freshfields team, advising issuer on Hong Kong and US law, while Fangda, which advised on PRC law, was led by partners Aaron Chen and Jane Chen.
Allen & Overy partner Jonathan Hsui led the team, acting as Hong Kong and US law counsel to the joint sponsors Morgan Stanley and CITIC Securities. Commerce & Finance counselled on the joint sponsors on PRC law.
Rept Battero, which is controlled by nickel giant Tsingshan Holding Group, produces mainly lithium-ion electric vehicle batteries and energy storage system batteries.
According to the prospectus, based on global ESS battery installations, Rept Battero occupied 8.8% and 5.7% of the market share among global lithium-ion battery manufacturers in 2022 and the first half of 2023, ranking third and fourth, respectively.
