Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has advised Citigroup Global Markets Asia Limited (Citi) and Deutsche Bank AG, Hong Kong Branch (Deutsche Bank) as bookrunners and joint lead managers on the successful HK$2.1 billion (approximately US$265 million) IPO of China Vanadium Titano-Magnetite Mining Company Limited (China Vanadium) which comprised a Hong Kong public offer and an international offering, including a placement under Reg S/Rule 144A.

Based in Sichuan Province, China Vanadium is the largest non-state-owned operator of iron ore mining operations, in terms of output volume, in the province.

Sammy Li, a partner in the Paul Hastings capital markets practice in Hong Kong, commented: “We are delighted to have advised Citi and Deutsche Bank, two of the firm’s important clients, on this successful Hong Kong IPO. This transaction highlights our strength in this particular sector, as we have previously advised on a series of successful IPOs in the energy and mining sectors.”

Raymond Li, also a partner in the Paul Hastings capital markets practice in Hong Kong and chair of the firm’s Greater China practice, who led the transaction, commented: “We are delighted to have completed yet another major Hong Kong IPO. Despite challenging market conditions, our capital markets practice has successfully closed a series of significant transactions over the last three months. In addition to this recent transaction, we recently closed successful IPOs for BBMG and Glorious Property as well as several top-up placements.”