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19 Nov 2024

Advised Huaibei GreenGold Industry Investment Co., Ltd.* (淮北綠金產業投資股份有限公司) on deemed disposal of equity interest in its subsidiary

​​​DeHeng Hong Kong advised Huaibei GreenGold Industry Investment Co., Ltd.* (淮北綠金產業投資股份有限公司) (“Huaibei GreenGold”) on the capital injection and deemed disposal of equity interest in Huaibei Tongming Mining Co., Ltd.* (淮北通鳴礦業有限公司) (“Huaibei Tongming”), a subsidiary of Huaibei GreenGold, at a consideration of approximately RMB84 million (the “Capital Injection”). The principal business of Huaibei Tongming is mining and processing of aggregate products.

 

The Capital Injection constituted a major transaction under Chapter 14 and a connected transaction under Chapter 14A of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the “Listing Rules”). The Capital Injection was exempted from independent shareholders’ approval pursuant to Rule 14A.101 of the Listing Rules and was approved by way of a written shareholders’ approval in lieu of holding a general meeting pursuant to Rule 14.44 of the Listing Rules.

 

Huaibei GreenGold is a company listed on the Main Board of The Stock Exchange of Hong Kong Limited (stock code: 2450). Huaibei GreenGold is a construction materials provider with state-owned background located in Huaibei City, Anhui Province and one of the four largest construction aggregate producers in Huaibei City and its surrounding cities (including Suzhou City and Bozhou City) in 2023.

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The deal is led by lead partners Ernest Chung and Stephen Kei of DeHeng Hong Kong, and supported by the team members including Phoebe Lo and Daniel Ting. DeHeng Hong Kong maintained a close connection with Huaibei GreenGold and other professional parties in this deal and provided professional, comprehensive and efficient legal services for this deal.

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Dec 1, 2021

Advised Zhongrong International Bond 2021 Limited on its issuance of US$100 million listed notes

Chungs Lawyers advised Zhongrong International Bond 2021 Limited (the “Issuer”) on its issuance of US$100,000,000 6.80% guaranteed notes due 2022 unconditionally and irrevocably guaranteed by Zhongrong International Holdings Limited (the “Guarantor”) with the benefit of a keepwell and liquidity support deed and a deed of equity interest purchase undertaking by Zhongrong International Trust Co., Ltd. (中融國際信托有限公司) (collectively with its subsidiaries, the Issuer and the Guarantor, the “Group”), and listed on the Singapore Exchange.


Zhongrong International Trust Co., Ltd. is one of the leading trust companies in the PRC. The Group’s principal business is its trust business which includes the design of asset-specific trust products and investment of trust assets in such products. In recent years the Group has expanded into non-traditional business, including asset management and wealth management.


Listing of the bonds on the Singapore Exchange commenced on 1 December 2021.

Dec 1, 2021

Advised Tianjin Free Trade Zone Investment Holdings Group Co., Ltd. on its issuance of listed bonds

Chungs Lawyers advised Tianjin Free Trade Zone Investment Holdings Group Co., Ltd. on its issuance of US$200,000,000 3.00% credit enhanced notes due 2024 with the benefit of an irrevocable standby letter of credit issued by China Bohai Bank Co., Ltd., Tianjin Pilot Free Trade Zone Branch (渤海银行天津港保税区分行), and listed on the Hong Kong Stock Exchange (stock code: 40936).


Established in 2008, Tianjin Free Trade Zone Investment Holdings Group Co., Ltd. provides regional services to three development zones within the city of Tianjin, including the Tianjin Port Free Trade Zone (天津港保稅區), the Tianjin Airport Economic Area (天津空港經濟區), and the Tianjin Airport International Logistics Zone (天津空港國際物流區). Tianjin Port FTZ operates under tax-free and paperwork-free policies, and is the largest free trade zone in Northern China.


Listing of the bonds on the Hong Kong Stock Exchange commenced on 25 November 2021.

Nov 19, 2021

Advised Rowen International Co., Limited on its issuance of US$85 million Guaranteed Bonds

Chungs Lawyers advised Rowen International Co., Limited on its issuance of US$85,000,000 6.50% Guaranteed Bonds due 2022 which is listed on the Hong Kong Stock Exchange (stock code: 40916).


The guarantor of the bonds, Weihai Wendeng District Bluesea Investment & Development Co., Ltd, is the largest state-owned enterprise by asset size in the Wendeng District, Weihai City, Shandong Province, the People’s Republic of China and a dominant development, construction and operation platform in the Wendeng District which focuses on infrastructure construction and affordable housing.


Listing of the bonds on the Hong Kong Stock Exchange commenced on 17 November 2021.

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