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Bakers lands historic first roles
A Sydney-based Bakers partner has acted on the first two listings of a new regional stock exchange that opened today.
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Firms: Baker & McKenzie (Australia Samly Holdings Group Limited and ZhongHuanYun Holdings Group Limited)
Value: Samly is seeking to issue $10 million new shares at $1 each, to bring its market capitalisation up to $40 million. ZhongHuan Yun Holdings is seeking to raise just over $6.5 million to bring the company’s capitalisation up to $26.3 million
Area: Capital markets
Key Players: Baker & McKenzie partner Bill Fuggle (pictured) led his firm’s team, with support from senior associate Shen Yin
Deal Significance: The APX officially opened for business today with the two aforementioned listings. “APX is set to become an important new venue and catalyst for greater capital flows and business links between Australia and Asia,” said David Lawrence, the CEO of the APX. “For China and other Asia domiciled businesses, we offer an attractive venue with access to institutional and retail investors.”
Australia Samly is a large-scale health products and dietary supplements business headquartered in Shenzhen and operating across China. ZhongHuan Yun Holdings integrates logistics support agency services with the manufacturing and sale of logistics package and parcels in China, but is looking to expand into Australia.
Bakers’ Fuggle was at the ASX this morning and said that “companies started trading at 11am this morning. There was (and remains) a large and excited group of stakeholders and Chinese media, about 100 people in all. Both companies are trading at a premium to their issue price.
“There is a buzz here at APX with a strong sense of opportunity and growing success.”
