19 Nov 2024
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.
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.
Advised Rugao Economic and Trade Development Company on its issuance of US$150,000,000 6.0% Bonds due 2022 which is listed on the Main Board of the Hong Kong Stock Exchange (stock code: 40041).
Rugao Economic and Trade Development Company is the primary investment, financing and construction platform in Rugao City, Jiangsu Province, the People’s Republic of China.
Listing of the bonds on the Main Board of Hong Kong Stock Exchange commenced on 29 October 2019.
Advised the controlling shareholder of Xin Yuan Enterprises Group Limited (stock code: 1748) (Xin Yuan) on the sale of an aggregate of 21.25% of the issued share capital of Xin Yuan to independent third party purchasers for a consideration of HK$132 million approximately. The transaction is expected to complete on 4 November 2019.
Xin Yuan is an investment holding company principally engaged in provision of asphalt tanker chartering services under various types of charter agreement.
Advised Xin Yuan Enterprises Group Limited (stock code: 1748) (Xin Yuan) on the acquisition of a vessel for a consideration of approximately US$15 million.
The MOA was entered into on 24 October 2019 and constituted a discloseable transaction under Chapter 14 of the Hong Kong Listing Rules.
Xin Yuan is an investment holding company principally engaged in provision of asphalt tanker chartering services under various types of charter agreement.