Davis Polk Advises on Placement of Shares in Goldpoly New Energy Holdings Limited

Davis Polk advised Credit Suisse (Hong Kong) Limited, Morgan Stanley & Co. International plc, BOCI Asia Limited and CLSA Limited in their capacity as placing agents for the placement of 1,000,000,000 shares (the “Placing Shares”)in Goldpoly New Energy Holdings Limited (“Goldpoly”) for a total consideration of approximately HK$1.7 billion.

The Placing Shares were disposed of by Jet Mile Limited (the “Vendor”), a substantial shareholder of Goldpoly. The Placing Shares, consisting of certain shares beneficially owned by the Vendor and certain shares converted from part of the convertible notes previously issued by Goldpoly to the Vendor, represented approximately 29% of the issued share capital of Goldpoly as enlarged by the conversion of the convertible notes.

Goldpoly is incorporated in Bermuda with its shares listed on the Main Board of the Stock Exchange of Hong Kong Limited. It is primarily engaged in the provision of solar energy products and solutions and development, operation and management of solar power plants.

The Davis Polk team included partners James C. Lin and Paul Chow and associates Peter Cheng, Shih-Jern Liang and Christine Xu. YangYang Zhai was the legal assistant on the transaction. All members of the Davis Polk team are based in the Hong Kong office.


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