Global law firm Norton Rose Fulbright has advised joint coordinators and financial advisors DBS Asia Capital Limited and Nomura International (Hong Kong) Limited on two separate issuances totalling US$784 million by Hong Kong-listed Chong Hing Bank Limited.
The deals include a US$665 million rights issue, and a US$129 million new shares issue to Guangzhou Metro Investment Finance (HK) Limited, a financing and investment holding company wholly-owned by state-owned enterprise Guangzhou Metro Group Co. Ltd.
Chong Hing Bank will use proceeds from both issuances to strengthen its capital base and support business development.
The Norton Rose Fulbright team on the deal was led by Hong Kong partner Terence Lau, who was supported by Hong Kong senior associate Priscilla Lee, and associates Kelly Tsoi and Betty Tam.
Terence Lau commented:
“We are pleased to have advised our clients in assisting on Chong Hing Bank’s successful rights and new shares issuances. The issuances have taken place just after the amendments to the Hong Kong Listing Rules took effect on 3 July 2018. We have definitely been seeing an increase in interest and activity as developments to the Listing Rules continues to happen, and companies are taking a fresh look at the new rules and considering how it may impact their business and capital raising aspirations.”
For further information please contact:
Jessica Seah, Marketing and Communications Manager, Asia. Norton Rose Fulbright
Tel: +852 3405 2327
Notes for editors:
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