JiaYuan advised Hunan Nonferrous Metals Corporation Limited (the “Company”), as China law counsel, on its US$262 million global IPO and listing on the Hong Kong Stock Exchange and its subsequent placing of new shares. On 9 July 2007, the Company entered into a placing agreement with Morgan Stanley and BOCI Asia Limited in relation to the placing, on a fully underwritten basis, of an aggregate of 272,118,000 H-Shares (the “Placing Shares”) at a price of HK$4.93 per H-Share. The Placing Shares comprise (1) 247,380,000 H-Shares to be allotted and issued by the Company and (2) 24,738,000 H-Shares to be converted from the same number of existing State-owned domestic shares that are to be allocated from several State-owned shareholders to the National Social Security Fund Council of the PRC. The Placing Shares represent approximately 7.96 percent of the existing issued share capital of the Company and approximately 7.42 percent of the issued share capital of the Company as enlarged by the issue of the new shares. The gross proceeds from the placing of new shares were approximately HK$1,220 million.