Norton Rose Fulbright advises Beijing Capital Land Ltd. on HK$3.9 billion issuance

Business August 12, 2015

Global legal practice Norton Rose Fulbright has advised Beijing Capital Land Ltd. on its issuance of 1,000,000,000 domestic shares to its controlling shareholder, Beijing Capital Group Co., Ltd.

Beijing Capital Land Ltd. is an investment holding company engaged in real estate development and investment, hotel operation and property consulting services and investment holding. It is an H-share listed issuer on the Hong Kong Stock Exchange.

The issuance is valued at RMB3.08 per share (equivalent to approximately HK$3.90), raising gross proceeds of approximately HK$3.9 billion.

As a result of the share subscription, the shareholding of Capital Group and its concert parties will increase from approximately 46% to 64% and therefore, a whitewash waiver will be sought from the Securities and Futures Commission.

The share subscription also constituted a connected transaction under the listing rules. Completion of the share subscription is conditional upon, among other things, independent shareholders’ approval at the extraordinary general meeting and class meetings to be convened.

The financial advisers to the company are HSBC and China International Capital Corporation (HK) Limited (as to Hong Kong aspects) and J.P. Morgan一創摩根 (as to PRC aspects) and the independent financial adviser to the company is Ample Capital Limited.

The team was led by Hong Kong partner Psyche Tai, assisted by Rachel Chan, Timothy Lam and Marco Cheng.

For further information please contact:

Stuart Lennon, Senior Marketing and Communications Manager, Asia
Tel: +852 3405 2306
stuart.lennon@nortonrosefulbright.com

Notes for editors:

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