Reconstructing and Overall Listing Project of Guangzhou Development Group Incorporated (2011)
Basic facts:
Guangzhou Development Group Incorporated is an important large-scale state-owned energy industry group in Guangdong Province, one of the top 100 enterprises in Guangdong Province and one of the top 500 Chinese service enterprises, mainly engaging in the investment, management and operation of electric power, coal, oil, natural gas, new energy and other integrated energy businesses. It is also the largest electricity supplier in Guangzhou and the largest market coal supplier in the Pearl River Delta; it has the gas pipeline network covering most areas in Guangzhou and has established an integrated industrial chain of natural gas from gas resource receiving, pipeline network transmission to terminal market.
In order to deepen the reform of state-owned enterprises, promote the securitization of state-owned asset and reduce the number of connected transactions, Guangzhou Development Group Incorporated took a listed company under the Group, Guangzhou Development (Stock code: 600098, formerly known as: Guangzhou Holding) as the platform and carried out overall listing through the scheme combining non-public offering of stock and asset acquisition. The overall listing adopts asset injection, asset transaction, raising money and other methods; and the asset transaction amount involved is over RMB 10 billion. April 28, 2012, China Securities Regulatory Commission approved the implementation plan for the overall listing of Guangzhou Development Group Incorporated. June 27, 2012, RMB 2.531 billion of raising money by non-public offering has been in place. July 4, 2012, the non-public offering of Guangzhou Development Group Incorporated has been registered for transfer and announced.
As the legal advisor of Guangzhou Development Group Incorporated for the overall listing, the lawyers of our law firm have provided special legal services for the whole process of the overall listing. The specific work includes carrying out due diligence investigation on legal facts related to this project and providing legal advices; assisting in drawing up and improving implementation plan related to this project; developing solutions to legal problems; drafting, reviewing and modifying the contract; and issuing relevant letters of legal opinions.
Lawyers’ remarks:
The overall listing project of Guangzhou Development Group Incorporated has huge transaction amount, complex structure, many working links and urgent time. Our law firm has assigned a service team formed by elite lawyers who have solid professional foundation and are proficient in the Company Law, the Securities Law, the Financial Law and state-owned asset management regulations and policies, providing high quality service to Guangzhou Development Group Incorporated and making contribution to the successful completion of the overall listing.
