Paul Hastings Represents CIMC on Landmark B-share to H-share Listing

December 19, 2012

Hong Kong (December 19, 2012) - Paul Hastings, a leading global law firm, announced today that it represented China International Marine Containers (Group) Co., Ltd. (CIMC), a leading global equipment and solutions provider in the logistics and energy industries which is listed on the Shenzhen Stock Exchange, on its landmark listing of H-shares converted from B-shares on the Main Board of The Stock Exchange of Hong Kong Limited (the Hong Kong Stock Exchange) by way of introduction. CIMC was ranked number one amongst dry freight container manufacturers in the world from 2007 to 2011 in terms of production volume, according to World Cargo News. Guotai Junan Capital Limited acted as sole sponsor for this listing.

In this first-of-its-kind transaction, CIMC converted its 1.43 billion B-shares with a total market value of approximately US$1.8 billion into H-shares and listed on the Hong Kong Stock Exchange by way of introduction.

This listing could be a precedent for more B-share companies to follow by converting their B-shares into H-shares and listing them on the Main Board of the Hong Kong Stock Exchange by introduction. We expect to see more B-share companies converting their B-shares into H-shares in the future and are ready to put our experience with CIMC to use in advising these companies, said Raymond Li, partner and Chair of Greater China.

The closing of the CIMC deal marks the end of a successful year for Paul Hastings Hong Kong capital markets practice. The team have advised on 23 debt and equity offerings in Asia involving total capital-raising of over US$10 billion, from January 2012 to date.

The Paul Hastings team was led by Raymond Li, partner and Chair of Greater China, and partners Catherine Tsang and Zhaoyu Ren, with support from of counsel Nan Li, associate Ke Zhu and paralegals Max Hui, Erika Zhao, Flora Wu and Jane Wang.

Paul Hastings is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.

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