Advising China Hongqiao Group Limited

Our Hong Kong corporate team, together with support from our US team, is pleased to have advised China Hongqiao Group Limited (China Hongqiao), a Hong Kong-listed company, on its top-up placing of 400,000,000 shares (Top-up Placing) to professional, institutional and/or other investors, raising approximately HK$11,680,000,000. The Top-up Placing was conducted in reliance on Regulation S and Rule 144A under the U.S. Securities Act of 1933, enabling access to eligible U.S. institutional investors. This transaction marks the second-largest placing in the industrial sector since 2022 and the second-largest top-up placing on the Hong Kong stock market since 2024.

The joint global coordinators and placing agents of the Top-up Placing were UBS AG Hong Kong Branch, CMB International Capital Limited and China Securities (International) Corporate Finance Company Limited.

Our team in Hong Kong was led by Partner Roger Zhou who was supported by Associates Austin Seto and Kelvin Ng. The US team was led by Partner Darryl Smith.

Roger Zhou, Partner, commented:

“We’re privileged to have supported our long-standing client, China Hongqiao, in achieving another milestone financing. Acting as China Hongqiao’s international legal counsel, we delivered efficient, high-quality assistance in reviewing and negotiating transaction documents within a tight timeframe, providing a solid foundation for the successful completion of the project.”