30 June 2022 - Events
Withers KhattarWong has advised Silkroad Nickel Ltd. (‘Silkroad Nickel’), formerly known as China Bearing (Singapore) Ltd., in its reverse takeover by mining company FE Resources Pte Ltd. (‘FE Resources’), and successful listing on the Catalist Board of the Singapore Exchange (‘SGX-ST’). Silkroad Nickel the first nickel mining company to list on the exchange.
The Withers KhattarWong team, comprising Corporate partner Leong Chuo Ming and legal associates Low Shan You and Chow Su Rin were the solicitors to Silkroad Nickel for the acquisition of the entire issued and paid-up share capital of FE Resources, resulting in a reverse takeover of the Company.
Leong Chuo Ming comments: “Our team is honoured to have acted for and worked closely with Silkroad Nickel in achieving this momentous milestone, from its reverse takeover to its successful listing on the Catalist Board of SGX-ST. It is especially exciting that Silkroad Nickel is the first nickel mine asset listed on the SGX-ST, given the vast potential applications of nickel, especially in batteries, which is currently a focus . We are looking forward to continue this journey with Silkroad Nickel in achieving greater heights.”
The deal underscores Withers KhattarWong’s capabilities in the equity capital markets. In recent years, Withers KhattarWong has been expanding its corporate practice, covering a wide range of corporate transactions from equity and debt capital markets, as well as mergers and acquisitions.
The reverse takeover of Silkroad Nickel was completed on 5 July 2018. The consideration paid for the acquisition was US$50,000,000, with an earn-out incentive of up to an additional US$70,000,000. Silkroad Nickel was successfully listed on SGX’s Catalist Board on 30 July 2018.