Deacons advises the sole sponsor Essence Corporate Finance (Hong Kong) Limited and underwriters in relation to the Main Board IPO of Global New Material International Holdings Limited (Stock Code: 6616), seeking to raise up to approximately HK$1,227 million (subject to the exercise of over-allotment option).
Global New Material is a pearlescent pigment producer, being the largest in the PRC market as measured by revenue in 2020 with a market share of 11.0%, according to a market research report commissioned by the company. In the global market, it was the fourth largest pearlescent pigment producer as measured by revenue in 2020.
The company published its IPO prospectus on 30 June 2021. Dealings in its shares on the Main Board of the Hong Kong Stock Exchange are expected to commence on 16 July 2021.
Our team is led by Kelvan Cheung, Partner of our Corporate Finance Practice Group.