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DLA Piper acts on significant HK listing
DLA Piper Hong Kong has represented China Everbright Capital Limited as the sole sponsor of China New Economy Fund (CNEF) Limited on its listing on the Main Board of the Hong Kong Stock…
Lawyers Weekly
DLA Piper Hong Kong has represented China Everbright Capital Limited as the sole sponsor of China New Economy Fund (CNEF) Limited on its listing on the Main Board of the Hong Kong Stock Exchange.
CNEF is a closed-end investment fund managed by CITIC Securities International Investment Management Limited. Its principal investment objective is to achieve long-term capital appreciation by investing globally in both private and publicly listed enterprises which are closely related to Greater China as well as new economy industries such as low carbon energy, software and internet-related industries.
Most significantly, it is the first investment fund listed on the Hong Kong Stock Exchange in the last seven years under Chapter 21 Listing Rules, which permits investment funds to be listed without authorisation from the Securities and Futures Commission, provided that all investors are "professional investors" under the Securities and Futures Ordinance.
"The exponential industrial growth in Greater China has brought tremendous opportunities for the development of new economy industries that value innovation and advanced technology, which are exactly the focus of CNEF," said Gannon.
