Herbert Smith Freehills has advised Goldman Sachs (Asia) L.L.C. as the placing agent on the US$34.4 million top-up placement of shares in ChinaVision Media Group (Stock Code: 1060).
Under the placing, 582,630,000 existing shares were placed by Goldman Sachs resulting in net proceeds of approximately HK$260 million for ChinaVision Media Group.
The Herbert Smith Freehills team was led by partners Matt Emsley, Kevin Roy and Michelle Chan, with support from senior associate Victor Ding and associates Jackie Chen and George Wu.
ChinaVision Media Group is listed on the main board of the Stock Exchange and has a secondary listing on the Singapore Stock Exchange. It is a diversified media company with businesses including TV and film production and satellite television advertising in the PRC. Its co-invested and co-produced movie, “Journey to the West: Conquering the Demons” produced box office revenue of over RMB1.2 billion in China alone in the first quarter of this year and also broke numerous box office records in China.
Robertsons also advised on this transaction.
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