Herbert Smith Freehills advised Goldman Sachs (Asia) LLC as the placing agent on a US$294 million private placement of new H-shares in Chinese railway power equipment maker Zhuzhou CSR Times Electric Company Limited.
Proceeds from the shares placement will be used to buy raw materials and machinery.
Headquartered in Zhuzhou, Hunan, Zhuzhou CSR Times engages in the research, development, design, manufacture and sale of mass transit electric driver convertor and control systems in China.
Herbert Smith Freehills Hong Kong partners Matt Emsley and Kevin Roy led the firm’s team on the deal. The partners were assisted by associates Athena Young and Jackie Chen.
Herbert Smith Freehills has previously advised Goldman Sachs on a number of equity transactions including when the investment bank acted as placing agent on the US$34.4 million top-up placement of shares in ChinaVision Media Group Limited, a Hong Kong-based television program and film producer, in May 2013. Earlier this year, Herbert Smith Freehills also acted for Goldman Sachs on its equity investment of US$110 million in Den Networks Limited, an Indian cable TV distribution company.
