Herbert Smith Freehills has advised JL MAG Rare-Earth Co., Ltd. on the deal.
JL Mag produces high-performance NdFeB rare earth permanent magnets (REPMs), which are used in new energy vehicles and automotive parts, permanent magnetic wind turbine generators, energy-saving variable-frequency air conditioners and other sectors. In 2020, JL Mag ranked first in the world by high-performance REPM production volume with a market share of approximately 14.5%.
The IPO raised over HK$4.045 billion (approximately US$520 million), and listed on 14 January 2022. Herbert Smith Freehills also drafted the prospectus.
Isaac Chen (Picture) and Zhong Wang jointly led the HSF team advising the issuer, assisted by senior associate Sherry Lai, associates Brian Ge, Bryan Zhu and Kathy Zhang, and legal assistants Yuanyuan Yin, Aiye Jia, Emma Chen, Gallant Guo and Nan Li.
Involved fees earner: Isaac Chen – Herbert Smith Freehills; Brian Ge – Herbert Smith Freehills; Sherry Lai – Herbert Smith Freehills; Zhong Wang – Herbert Smith Freehills; Kathy Zhang – Herbert Smith Freehills; Bryan Zhu – Herbert Smith Freehills;
Law Firms: Herbert Smith Freehills;
Clients: JL MAG Rare-Earth Co.;