Herbert Smith Freehills and China Commercial Law Firm have advised Chinese rare-earth permanent magnet producer JL Mag Rare-Earth on its $520 million secondary listing in Hong Kong, with Allen & Overy and Jingtian & Gongcheng advising the joint sponsors.
Established in 2008, JL Mag is headquartered in Ganzhou, Jiangxi Province. It specializes in the development, manufacturing and selling of high-functioning NdFeB permanent magnet materials. In 2018, the company undertook an initial public offering in Shenzhen.
The HSF team was led by partners Isaac Chen and Wang Zhong, while the China Commercial Law Firm team was led by partners Ni Xiaoyan and Pan Jing. CITIC Securities and BNP Paribas acted as joint sponsors.