Lawyers from Carey Olsen have advised West China Cement Limited (WCC) on its successful offering and listing of its 7.5% senior notes due 2016 (the notes) on the official list of Singapore Exchange Securities Trading Limited which completed on 26 January 2011.

WCC, a leading cement producer in the Shaanxi province of China recognised in 2009 by Forbes Magazine as one of “Asia's 200 best companies with a market capitalization under US$1 billion”, is the first Chinese business held through a Jersey company to list on the Hong Kong Stock Exchange (HKEx). The offering of the notes was for the aggregate principal amount of US$400 million.

Partner Guy Coltman who led the team providing Jersey legal advice on the transaction said: “We advised WCC on its enormously successful global offer and listing of its shares on the HKEx and we’re delighted to be able to assist the company with this transaction which has enabled us to continue to strengthen both our firm’s, and Jersey’s, reputation in the Asian markets.

“We anticipate seeing more Chinese and other Asian businesses following WCC’s prosperous example.”

Mr Coltman was assisted on the transaction by associate Claire O’Boyle.

She added: “While Jersey is a well-known jurisdiction for establishing a holding vehicle for Chinese companies looking for a listing in Europe, particularly London, it has not always been at the forefront of people’s minds for listings and other finance type transactions based in Asia.

“However, we are confident that now that Jersey is an approved jurisdiction for the HKEx China and Asia will look increasingly to Jersey for a variety of transactions which require an offshore element to their structure provided by leading experts in international offshore centres.”