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A Stock Exchange of Hong Kong (HKEX) logo in Beijing, China September 4, 2020. REUTERS/Tingshu Wang

Cleary Gottlieb Steen & Hamilton and Zhejiang T&C Law Firm have advised Lygend Resources & Technology on its $472 million initial public offering in Hong Kong, with Herbert Smith Freehills and Commerce & Finance Law Offices advising the sponsors.

According to Reuters, the Ningbo-based's firm's IPO is the fourth-largest in Hong Kong so far in 2022. The company says it is the world's largest nickel product trader, and the largest in China in terms of nickel ore trading in 2021, with a market share of 26.8 percent in 2021, Reuters added.

The HSF team was led by Hong Kong partner Jason Sung, with partner Jin Kong providing support on U.S. securities law. The T&C team included managing partner Lv Chonghua, director of the firm's Ningbo office Cheng Hui, and partner Zhao Yan.

Indonesian firms Imran Muntaz & Co. and Hiswara Bunjamin & Tandjung also took part in the deal.

CICC and CMB International acted as sponsors for the deal.

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