AllBright client wins approval for relisting on the B-share market2013-01-1023152
On December 31, 2012, the Shenzhen Stock Exchange approved Wuhan Boiler Co., Ltd’s application to relist on the Shenzhen B-share market. Wuhan Boiler was advised by AllBright attorneys, including Senior Partner Shen Guoquan, Partner Li Hejin, Associate Wang Jun, on the procedure. Thanks to the decision, Wuhan Boiler was able to keep its public company status before the deadline for relisting applications concerning “*ST shares.” These are specially treated shares due to a long record of losses and thye are on the verge of delisting. This gave Wuhan Boiler more time to implement its plan for future development..
Wuhan Boiler, whose controlling shareholder is Alstom (China) Investment Co., Ltd, is traded only on Shenzhen’s B-share market. The B-share market is a unique platform created during the development of China’s capital markets. The relisting procedure for B-share companies is much more complicated legally compared with A-share companies. The services provided by AllBright successfully solved the client’s legal problems.
AllBright Senior Partners David Tang, Huang Zhibin and Liu Zhibin also contributed to the case.