Carey Olsen has advised maritime-focused investment company Yangzijiang Maritime Development Ltd. ("Yangzijiang Maritime") on its listing on the mainboard of the Singapore Exchange, with opening price placing the company's market capitalisation at S$2.15 billion.
Yangzijiang Maritime focuses on core businesses of maritime asset investments, ship financing and related services. The company was spun off from Yangzijiang Financial Holdings Ltd., a leading investment manager in Asia, as part of the strategy to sharpen its investment focus.
Carey Olsen Singapore partner Anthony McKenzie, counsel Maggie Yan and associate Anastasija Kornejeva acted as British Virgin Islands legal counsel for the deal alongside lead Singapore counsel Rajah & Tann Singapore LLP.
Anthony McKenzie commented, "We are proud to have supported Yangzijiang Maritime on its successful listing, which reflects Singapore's continued appeal as a base for the world's most prominent shipping and finance-linked businesses. Carey Olsen works alongside many of the industry's major players and it is always a pleasure to be involved as new companies enter the public market – especially when they have such enormous potential as Yangzijiang Maritime."