Shanghai-headquartered Red Avenue New Materials Group has listed on the HKEX’s main board on 29 September 2026, raising HKD3 billion (USD382 million). The listing gives the company an A+H dual-listing structure following its debut on the SSE’s main board in 2018.
Chiu & Partners, AllBright Law Offices, Stephen Peepels, Han Kun Law Offices and Dacheng Law Offices provided legal advice on the offering.
Frost & Sullivan said Red Avenue ranked first globally and in China by sales revenue in the phenolic resin rubber additives market for tyres in the 2025 financial year, with market shares of 41.4% and 45.9%, respectively.
The company issued about 68.12 million H shares at HKD44 each. Haitong International acted as sole sponsor.
Chiu & Partners advised the issuer on Hong Kong law, with a team led by partners Grace Chan and Simon Lai. AllBright provided PRC legal advice through a team comprising senior partners Alex Song, Chen Bo and Wang Li, and partner Chen Yangyang. Stephen Peepels advised on international sanctions law.
On the underwriters’ side, Han Kun acted as Hong Kong and US legal counsel, with a team led by partner Ethle Tang. Dacheng provided PRC legal advice through a team led by senior partners Liu Feng and Wang Enshun.
Red Avenue’s product portfolio includes rubber additives for tyres, electronic materials and fully biodegradable materials.
The prospectus stated that proceeds from the Hong Kong listing would be used to enhance research and development efficiency and capabilities, upgrade and maintain production facilities, pursue strategic investments and acquisitions, repay bank borrowings, expand the company’s overseas presence and supply capabilities, and fund working capital and general corporate purposes.
