Bedell Cristin advises GTS Chemical Holdings plc 天泰集团 on £36.83million AIM IPO

09 Feb 2015

Bedell Cristin's Jersey office has advised GTS Chemical Holdings plc ("GTS"), a speciality chemicals producer and the largest Chinese manufacturer of ammonium sulfite, on its £36.83million AIM IPO and £3million fundraising.

GTS is the Jersey incorporated holding company of the Chinese company, Shandong Tiantai Steel-Plastic Co., Ltd. The group's principal activities are production and distribution of speciality ammonium based chemicals and manufacture and distribution of lubricating oil.  The group’s business utilises waste products from the fertilising and coking industries to manufacture speciality chemicals, the uses of which include the sustainable manufacture of paper.

Working alongside lead transaction counsel, DWF LLP, Tim Pearce and Amy Fairfoull from Bedell Cristin's Jersey corporate finance team, together with assistance from Bedell Group's head of Asia Pacific, Victor Ho, advised GTS on all aspects of the transaction including obtaining the required Jersey regulatory approvals to the transaction, advising on Jersey corporate governance issues and providing Jersey advice in respect of the admission document and the transaction in general.

Tim Pearce commented: "We are delighted to have advised GTS on their successful IPO and to have been part of a team that assisted with the listing of this exciting and innovative business - this is another recent example of our extensive corporate and commercial experience and expertise."

Mr Cheng Liu, CEO of GTS Chemical Holdings plc, commented: “In producing chemicals from waste we generate cost savings and environmental benefits, which are important to securing a more sustainable future for China. Our IPO marks the start of the next major phase of development for GTS and it will enable the company to broaden our investor base and assist in raising funds to expand our production facilities.”

Nominated adviser and broker to GTS was SP Angel Corporate Finance LLP. Norton Rose Fulbright (Andrew Phillips) advised SP Angel Corporate Finance. Chinese legal advice to GTS was provided by Beijing Da Cheng Law Offices.