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Deacons advises the sole sponsor BOCOM International (Asia) Limited and underwriters in relation to the Main Board H-share IPO of Huzhou Gas Co., Ltd. (SEHK Stock Code: 6661), seeking to raise HK$304 million (subject to the exercise of over-allotment option).
Huzhou Gas is the largest piped natural gas (PNG) distributor in terms of sales volume in Huzhou (湖州), a major prefecture-level city in Zhejiang Province, the PRC, with a market share of 44.1% in Huzhou; and the fifth largest PNG distributor in terms of sales volume in Zhejiang Province, in 2021, according to a market research report commissioned by the company.
Huzhou Gas launched its IPO on 29 June 2022. Dealings in its shares on the Main Board of the Hong Kong Stock Exchange are expected to commence on 13 July 2022.
Our team is led by Ronny Chow, Head of our Corporate Finance Practice Group.
This is the third IPO on PNG businesses advised by us in recent years. The earlier two cases, Suchuang Gas (1430) and JiaXing Gas (9908), were also led by Ronny Chow.
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