GreatStar shines on the SIX continuing Swiss listings trend

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GreatStar shines on the SIX continuing Swiss listings trend

Hand tools manufacturer GreatStar Industrial began selling its global depository receipts (GDR) on the SIX Swiss Exchange after raising USD155 million on its IPO.

GreatStar’s listing, which came hot on the heels of a similar path as lithium battery maker Sunwoda Electronic, became the second A-share IPO in a week on the Swiss bourse.

Niederer Kraft Frey, Clifford Chance and T&C Law Firm advised GreatStar, while Huatai Financial Holdings, the sole global co-ordinator, was advised by Allen & Overy.

The Niederer Kraft Frey team was co-led by capital markets counsel Franziska Albers-Schönberg, and corporate/capital markets partner Philippe Weber and capital markets partner Daniel Bono.

China co-managing partner Tim Wang and partner Jean Thio led the Clifford Chance team. Partner Kong Jin led the T&C team.

Allen & Overy was led by Jonathan Hsui and Liu Kung Wei.

GreatStar Industrial said it has a strong reliance on Europe as more than 95% of its revenue is from overseas.

The company acquired BeA last year, one of Europe’s leading manufacturers of pneumatic nailers and industrial fasteners with more than 100 years of history.