Offering and listing of USD 346 million Global Depository Receipt (“GDR”) on the SIX Swiss Exchange led by SMMA.

Congratulations to our client, GEM Co. Ltd., on the successful offering and listing of USD 346 million Global Depository Receipt (“GDR”) on the SIX Swiss Exchange. SMM Advocates, led by our Partner, Elvino Martinus, acted as the Indonesian legal counsel in the transaction. CLSA Limited, BNP PARIBAS and Helvetische Bank AG acted as underwriters on the deal.

GEM Co. Ltd. is one of the first companies to issue GDR in the Swiss capital market through the China-Switzerland Stock Connect after China Securities Regulatory Commission reformed the Stock Connect scheme and the Swiss regulators recently finalized the revised SIX listing rules in late July 2022.