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Guantao advises CM Hi-Tech Cleanroom Limited on its ‌privatization and delisting from HKEX

Guantao Hong Kong Office‌ acted as ‌Hong Kong legal counsel‌ to ‌CM Hi-Tech Cleanroom Limited‌ ("CMH") on its ‌privatization and delisting from the Hong Kong Stock Exchange (HKEX).  The firm delivered ‌end-to-end legal services‌ characterized by ‌professional rigor and operational efficiency‌, covering: ‌transaction structuring, drafting, revising, and negotiating transaction documents,‌ and advisory services.

CMH is a provider of ‌cleanroom wall and ceiling systems and cleanroom equipment‌ across China and Malaysia.  The privatization transaction will enable CMH, as a privately held entity, to ‌execute long-term business strategies with enhanced flexibility‌ and pursue ‌new commercial opportunities‌, free from the ‌administrative obligations‌ and ‌short-term market volatility‌ associated with public listing.

The privatization transaction‌ was executed via a ‌Scheme of Arrangement‌, under which ‌68.39% of CMH’s shares‌ were acquired for cash, while the remaining ‌31.61% held by management shareholders‌ were converted through a ‌share swap mechanism‌.  The privatization plan was ‌sanctioned by the Grand Court‌ of the Cayman Islands and approved by independent shareholders, with CMH’s shares ‌ceasing trading‌ and ‌delisting from the HKEX‌ following the market close on ‌January 8, 2025‌.

Guantao team‌ was led by HK-based partner George Lee‌, with core members including ‌seniors associates Li Cuili and Huang Anyun, as well as Luo Haoren and Pang Benyi‌.  The team‌, renowned for its ‌extensive experience, diligence, efficiency, and meticulous professionalism‌, provided full-process and end-to-end support‌ to ensure the transaction’s ‌effective implementation according to schedule‌.