Tian Yuan Law Firm and Linklaters advised Ming Yang Smart Energy Group, a wind turbine manufacturer, on its global depositary receipts (GDR) trading on the Shanghai-London Stock Connect scheme on the Main Market of the LSE.
The deal raised USD706 million and was the first of this type to apply the scheme after being amended in February. It was also the first private enterprise in China to issue GDRs.
Tian Yuan’s team was led by partners Liu Yan and Yang Huipeng, supported by associates Liu Boyuan, Wang Ying, Zhang Miaoran, Cao Pei and Zhao Wanyu.
Linklaters’ team was led by a corporate partner John Xu, supported by partners Lipton Li, Iris Leung and Tom Thorne.
Ming Yang was ranked seventh among global turbine manufacturers in 2021 by BloombergNEF. It is currently developing the most powerful offshore turbine globally.