Slaughter and May advised on the Hong Kong IPO of Beijing Shougang LanzaTech Technology Co., Ltd.

Slaughter and May Hong Kong advised Beijing Shougang LanzaTech Technology Co., Ltd. (“Shougang LanzaTech”) on its global offering and listing on the Main Board of the Hong Kong Stock Exchange. The offering raised approximately HKD584 million (approximately USD74.5 million) immediately following the completion of the global offering.

Shougang LanzaTech is the first company in the carbon capture, utilization and storage industry utilizing synthetic biotechnology that has been validated to achieve both commercialization and scalability of the production of low-carbon products. It has achieved a number of breakthrough innovations, such as completing the world’s first set of industrial devices for producing ethanol and microbial protein through bio-fermentation processes by utilizing the carbon-containing industrial off-gas generated by steel and ferroalloy mills.

The ethanol produced by Shougang LanzaTech can be used in automotive fuel, as well as raw materials for the production of perfumes, sports fashion, cleaning agents, packaging materials and other products. The microbial protein is China’s first novel feed protein raw material, which also received the first new product certificate for feed and feed additives under the category of Feed Raw Material ever issued by the Ministry of Agriculture and Rural Affairs of the PRC.

The retail tranche of the global offering was subscribed by more than 1,420 times, resulting in the clawback of shares in the global offering from the placing tranche to the retail tranche which was increased from 10% to 15% of the global offering.

Trading in Shougang LanzaTech’s H shares commenced on the Hong Kong Stock Exchange on 3 June 2026, and closed on the first day of trading at HKD21.06, 44.25% above the offer price of HKD14.60.

Benita Yu, Senior Partner at Slaughter and May, Hong Kong, commented: “We are very excited to see the successful listing of Shougang LanzaTech in Hong Kong. The transaction is meaningful not only because of the positive environmental impact that the company’s business has on the world, but also because of the way in which the company and all intermediaries have lent their amazing efforts to overcome what seemed to be insurmountable challenges over almost two years. We look forward to assisting Shougang LanzaTech in its business and strategic developments going forward. ”