Dacheng Advises China City Railway Transportation Technology on GEM Listing at HKEx

On May 16 2012, China City Railway Transportation Technology Holdings Company Limited (Code No.: 8240) was listed on the Growth Enterprise Market (“GEM”) of the Stock Exchange of Hong Kong (“HKEx”) through an initial public offering.
 
China City Railway Transportation Technology is a provider of high-efficiency, precise informationized system solutions for China’s urban railway transportation systems and Hong Kong’s public transportation system. Its key clients include Beijing Subway, MTR Corporation Limited and the Kowloon Motor Bus Co..
 
The company holds equity in ERG Transportation System (Beijing) Co., Ltd. and its subsidiary Beijing BII-ERG Transportation Technology Co., Ltd.. ERG Transportation System (Beijing) Co., Ltd. has installed the automatic fare collection clearing center system and traffic control center system for four Beijing subway routes and has been independently developing and marketing relevant products. One of the principal shareholders of ERG Transportation System (Beijing) Co. is Vix Technology, an Australia-based technology company which acquired ERG Group and restructured itself before becoming one of the world’s leading technology providers in automatic fare collection systems with business in Australia, the US, Europe, Thailand and China. Beijing Infrastructure Investment Co., Ltd., administered by State-owned Assets Supervision and Administration Commission of Beijing, is also a principal shareholder. Guotai Junan International (Hong Kong) Limited injected strategic capital to the company before its listing.
 
Dacheng attorneys acted as PRC counsel for the sponsor of the listing. Dacheng senior partner Li Shoushuang was in over-all charge of the project while attorney Zhang Run acted as principal undertaker, with assistance from attorneys Li Xue and Yang Fan. The project team was responsible for such key procedures as red-chip restructuring, issuing PRC law-based legal opinions and drafting the prospectus.