The Hong Kong office of international law firm Eversheds has advised New World China Land Limited on a rights issue to raise up to HK$4.3 billion.

New World China Land will issue up to 2,917 million shares to raise long-term equity funding for refinancing the Company’s existing borrowings and debts and to strengthen the company’s long-term capital base and enhance its financial resilience.

The Eversheds team was led by Stephen Mok, Partner and Head of Corporate in Hong Kong, and supported by Norman Hui, Senior Associate.

Stephen said:

“We have worked with the New World group for many years now, advising on a string of fundraising transactions and acquisition. The present rights issue has been one of the largest to date and we are confident that there will be appetite for investment in such a diverse company. The funds raised will put New World China Land in a strong position for the future as the company continues on its strategy for expansion.”