Dianchi Water Treatment HK IPO Completed, CICC Acts as Joint Global Coordinator and Joint Bookrunner

Kunming Dianchi Water Treatment Co., Ltd. (“DCWT” or “the Company”) was successfully listed on the Main Board of the Stock Exchange of Hong Kong on Apr 6th, 2017 at the price of HKD 3.91 per share (“the offering”). It issued approxiamately 340 million shares (including existing shares from NSSF’s disposal of state-owned shares, accounting for 33% of its enlarged capital), raising total proceeds of approximately USD 172 million (post-shoe). CICC acted as Joint Global Coordinators and Joint Bookrunners in the transaction.

DCWT is a leading municipal wastewater treatment and reclaimed water supply services provider in Yunnan Province, the PRC, a provider of integrated water-related services, including running water supply service and a core enterprise implementing the PRC’s strategic goal to treat pollutants at Dianchi Lake. Ranked first in Yunnan Province, the PRC, the Company accounted for 34.0% of the designed wastewater treatment capacity and 45.1% of the actual volume of wastewater treated in the province.

Up to the time of listing, the offering is the largest non-financial H-share IPO on Hong Kong market since 2017, the largest utility company IPO on Hong Kong market since 2017 and the largest water-treatment company IPO on Hong Kong market since 2016. Based on our rich investor resources and deep understanding of the Company’s investment highlights, CICC played an important role in its successful offering.