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Schramm Holding IPO

US$23.00 m

Entry date - Thursday, 7 January 2010
Jurisdiction - Hong Kong, Korea
Practice - Equity Market
First ever listing by German joint stock company on HKSE; first European company on HKSE main board

Firm CIMA Consultores Economistas y Abogados Client Schramm Holding AG Lead Lawyers Role Spanish counsel	Firm DLA Piper Client Guotai Junan Capital Limited and Samsung Securitie Lead Lawyers Esther Leung, JC Lee Role Int counsel	Firm Hills & Co Client Schramm Holding AG Lead Lawyers Role PRC counsel
Firm International Legal Counsellors Client Schramm Holding AG Lead Lawyers Role Thai counsel	Firm Lee & Li Client Schramm Holding AG Lead Lawyers Role Taiwan counsel	Firm Lee International IP & Law Group Client Schramm Holding AG Lead Lawyers Role Korean counsel
Firm Norton Rose Client Schramm Holding AG Lead Lawyers Justin Wilson, Michael Malterer, Richard Crosby, Stanley Lai Role German/HK counsel	Firm Ramrais & Partners Client Schramm Holding AG Lead Lawyers Role Malaysian counsel

DEAL SUMMARY

First ever listing by German joint stock company on HKSE; first European company on HKSE main board

Eighth IPO project for DLA Hong Kong in 2009. Seven -lawyer team from HK and Frankfurt offices coordinated deal - reconcile differences between German laws and Hong Kong laws, and shareholder protection standards, expected of overseas company under listing rules.

"The IPO backlog has embarked on its clearing path and 2010 is expected to be an impressive year for Hong Kong as many companies return to expansion mode, capital raising, and seek to list spin-off operations," Esther Leung, DLA Piper

Norton Rose also advised on future listing of German companies in Hong Kong - decision by HKSE rendered in August 2009. Has advised Schramm's expansion in Asia and the United States since 2005 - acquisition of three factories in Tianjin, Shanghai and Huizhou and of IP-rights from SSCP.

”While IPOs of German companies in London or the US by all means are not unusual anymore by now, listings at Asian stock exchanges are still rare. This is not only due to the disproportionately higher administrative efforts. In particular the different legal systems (civil law versus common law) which clash during such undertakings impose significant legal challenges on the companies and their advisers. Such challenges also had to be solved during the IPO of Schramm which required creativity, flexibility and negotiating skills with German and Hong Kong authorities. The focus laid in particular on shareholder protection issues and the comparability of laws and regulations for German stock corporations with those for Hong Kong stock corporations.“ Michael Malterer, Norton Rose

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