CapLaw-2023-36

In July 2023, Zhejiang Huayou Cobalt, whose A Shares are listed on Shanghai Stock Exchange, sold 50,000,000 GDRs representing two A-Shares each at an offer price of USD 11.65, raising gross proceeds of approximately USD 582.5 million from the offering. Trading in the GDRs on SIX Swiss Exchange commenced on 7 July 2023.