International Mining Machinery IPO
 US$326m
Synopsis International Mining Machinery launches Hong Kong IPO
Firm Client Role
King & Wood
IMM
 PRC counsel
Baker & McKenzie
IMM
 Hong Kong and US counsel

Walkers

[Lead lawyer: Denise Wong]
IMM
 Caymand Islands counsel
Skadden
Sole sponsor
 Hong Kong and US counsel
Commerce & Finance
Sole sponsor
 PRC counsel

King & Wood, Commerce & Finance, Walkers, Baker & McKenzie and Skadden have been instructed on International Mining Machinery’s (IMM) US$326m IPO in Hong Kong. IMM, backed by The Jordan Company, was formed in 2006 to acquire Jixi Coal Mining Machinery and Jiamusi Coal Mining Machinery.

“Private equity-backed companies coming to the market via IPOs is a trend that is currently being played out across Asia as firms look to release value from investments made over the past few years. We expect this trend to continue over the first half of 2010,” said Walkers’ partner Denise Wong.

Hong Kong remains a popular choice for listings because of it efficient approval procedure and potential to attract foreign capital compared to domestic capital markets. “This listing underscores the attractiveness of Hong Kong as a listing venue, after more IPO proceeds were achieved there in 2009 than any other global exchange,” Wong added.

Capital markets advisors like King & Wood and Commerce & Finance have recently been very active in Hong Kong listings. Both firms advised on one of 2009’s largest (US$3.9bn) Hong Kong IPOs, that of China Pacific Insurance, in December. Commerce & Finance also recently ranked number-one in mergermarket’s 2009 table of legal advisors to Greater China M&A.

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