.jpg)
Dewey & LeBoeuf LLP, a leading international law firm, advised the underwriters Sal. Oppenheim jr. & Cie. Kommanditgesellschaft auf Aktien and BOCI Asia Limited in the successful IPO of Asian Bamboo AG on the regulated market (Prime Standard) of the Frankfurt Stock Exchange. This transaction was the second so-called indirect listing of a Chinese company on the Prime Standard of the Frankfurt Stock Exchange, after the firm successfully advised the underwriters in the initial public offering of ZhongDe Waste Technology AG in July 2007.
In connection with the IPO, approximately 5.6 million shares were offered in a public offering in Germany and Luxembourg and in an international private placement outside the United States. The offer price was set at the upper end of the price range and the offering was approximately 15 times oversubscribed. The gross proceeds from the offering will amount to approximately € 95m.
Asian Bamboo Group is a leading bamboo producing company in China focusing on two business segments: bamboo trees and organically grown bamboo shoots. As a result of long-term contracts, Asian Bamboo Group currently has access to 13 bamboo plantations comprising a total acreage of more than 14,600 ha (36,077 acres) in the Fujian province, one of the most important and suitable areas for the growing of bamboo in China.
The IPO was led by Frankfurt partners Matthias von Oppen and Joseph Marx. They were assisted by partners Sharon Mann from the Beijing office and Philipp von Ilberg from the Frankfurt office. Additional team members included associates Jenny Wang and Xinyue Feng from our Beijing office and Dr. Christine Dausend from Frankfurt.
Commenting on the transaction, partner Matthias von Oppen said: “We are delighted to have had the opportunity to advise the underwriters on the second successful China IPO on the Frankfurt Stock Exchange and to further strengthen our track record for Chinese companies here in Germany.”
