Leading international law firm Clifford Chance has advised Haitong Securities Co., Ltd. on its proposed issue of 1.92 billion new H-shares at HK$15.62 each aiming to raise a total of US$3.9 billion in a private placement to seven institutional investors. The deal is subject to shareholders’ and regulatory approvals.
Haitong Securities will use the funds raised to expand its margin financing and securities lending business, stock repo trading and equity pledged financing business, sales and trading business of structured products and direct investment business, for working capital and to support the sustainable growth of its business.
“We’re delighted to be once again working with Haitong Securities on another important transaction,” said Corporate partner Virginia Lee, who led on this transaction. “Being well capitalised will allow Haitong Securities to invest in expanding its business lines to capture emerging growth opportunities in China.”
Clifford Chance had earlier co-advised Haitong Securities on its proposed acquisition of Banco Espírito Santo de Investimento, S.A. (BESI) for €379 million (US$467 million) from Portuguese banking group, Novo Banco, S.A.
Virginia was supported by partners Cherry Chan and Jean Thio and assisted by associate Lorna Lu in Shanghai.
Source: www.cliffordchance.com
