Mayer Brown JSM advised Hong Kong-listed China State Construction International Holdings Limited (CSCI) on its top-up placement of 300 million shares to independent third parties at approximately HK$7.57 per share, raising approximately HK$2.2 billion.
CSCI is one of the largest construction contractors in Hong Kong, with a number of flagship construction and civil engineering projects in the China market. It has undertaken over 780 projects in Hong Kong, Mainland China and Macau over the past 30 years. It is also one of the few leading construction companies dedicated to building affordable housing and infrastructure projects. The funds raised from the share sale will help consolidate CSCI’s financial structure and working capital, with an aim to optimise returns to investors.
Corporate Finance partner Jeckle Chiu said: “We are delighted to have advised CSCI on this share sale. We have a long standing working relationship with CSCI since 2005 when we advised them on their listing on the Stock Exchange of Hong Kong.” Earlier this year, Jeckle also advised CSCI on their takeover of Far East Global Group Limited on the same exchange.
The Mayer Brown JSM team was led by Corporate Finance partner Jeckle Chiu.
