On June 27, 2022, Unifrax Asia-Pacific Holding Limited (hereinafter referred to as "UAPH") completed the partial tender offer (hereinafter referred to as the "Tender Offer", or the "Transaction") of Luyang Energy-Saving Materials Co., Ltd. ("Luyang", Stock Code: 002088), a listed company on Shenzhen Stock Exchange (hereinafter referred to as "SZSE"). The period of the Tender Offer formally expired on June 22, 2022, so far, the confirmation of the Tender Offer result and the transfer of shares have been completed.
Before the Tender Offer, UAPH held 28.14% of the total share capital of Luyang and is the controlling shareholder of Luyang. UAPH intends to increase its shareholding in Luyang through the Tender Offer, further strengthen its control over Luyang, and enhance the stability of the equity structure of Luyang. After the completion of the Tender Offer, UAPH's shareholding in Luyang increases to 53.00% of its total share capital.
The Transaction is not only the largest A-share partial tender offer completed so far this year, but also the largest foreign investment into the specialty chemicals segment of China's A-share market to date.
Llinks acting as the Chinese legal counsel of UAPH, after assisting UAPH to acquire the controlling interest in Luyang in 2014, once again provided professional legal services to UAPH for the Tender Offer. The Transaction is also another landmark case of Llinks' service to global multinational companies investing in China.
Llinks Team:
Partners: Selena She, Way Chen, Zhengyi Zhang, Colin Shi
