Campbells has acted as the Cayman Islands and British Virgin Islands legal counsel of Chuangxin Industries Holdings Limited in connection with its approximately HK$5.5 billion initial public offering and listing of its 2.0 billion shares (subject to the over-allotment exercise) on the Main Board of the Hong Kong Stock Exchange. The Hong Kong Public Offering was oversubscribed by around 450 times, and it has attracted reputable investors including Swiss commodity giant Glencore PLC, Chinese investment manager Hillhouse Investment Management and US asset manager Millennium Management LLC.
Chuangxin Industries Holdings Limited focuses on alumina refining and aluminum smelting within the upstream of the aluminum industry chain. Its aluminum smelter in Huolinguole, Inner Mongolia, was the fourth-largest production base of electrolytic aluminum in terms of production output in 2024 in North China. The group was also the twelfth-largest electrolytic aluminum producer in terms of production output in 2024 in China. With a proven track record of cost leadership, proactive green transition initiatives, and a highly integrated operational ecosystem, the group is strategically positioned to capitalize on growing global demand for aluminum.
Clifford Chance acted as Hong Kong and US legal counsels to Chuangxin Industries Holdings Limited, and Commerce & Finance Law Offices acted as its PRC legal counsels. Freshfields acted as Hong Kong and US legal counsels to the joint sponsors and the underwriters, and Jingtian & Gongcheng acted as their PRC legal counsels. The joint sponsors are China International Capital Corporation Hong Kong Securities Limited and Huatai Financial Holdings (Hong Kong) Limited, and the underwriters include China International Capital Corporation Hong Kong Securities Limited, Huatai Financial Holdings (Hong Kong) Limited, UOB Kay Hian (Hong Kong) Limited, CMB International Capital Limited, BOCI Asia Limited, AVICT Global Asset Management Limited, South China Securities Limited, Futu Securities International (Hong Kong) Limited, Tiger Brokers (HK) Global and Limited Livermore Holdings Limited.
Campbells partner Jenny Nip led the transaction with support from senior associate Chantelle Chan and associate Benjamin Tao.
