Herbert Smith has advised Goldman Sachs Asia (Asia) L.L.C., as placing agent, on the sale of 294 million shares of Hang Lung Properties Limited (HLP) held by its controlling shareholder, Hang Lung Group Limited (HLG), for HK$11.01 billion (US$1.42 billion).
The 294 million shares were sold under a top-up placement, with the final price fixed at HK$37.48 per share.
Founded in 1949, HLP is a top-tier property developer in Hong Kong and on the Mainland. Its Hong Kong listed parent company, HLG, has 50 years of experience in the property development market.
Herbert Smith’s Hong Kong corporate team advised on both the Hong Kong and US law aspects of the transaction. Corporate partners Matt Emsley and John Moore led the team, assisted by senior associates Melody Chen and Victor Ding and associate Bosco Yiu.
• Sino Land’s US$663 million top-up placement
Herbert Smith has advised Goldman Sachs Asia (Asia) L.L.C., as placing agent, on the top-up placing of 305 million shares of Sino Land Company Limited at HK$16.85 per share. Sino Land raised approximately HK$5.14 billion (US$663 million) in the placing.
Listed on the Hong Kong Stock Exchange in 1981, Sino Land is a member of the Sino Group and one of the leading property development companies in Hong Kong.
Herbert Smith’s Hong Kong corporate team advised on both the Hong Kong and US law aspects of the transaction. Corporate partners Matt Emsley and John Moore led the team, assisted by senior associates Melody Chen, Jason Sung and Hsiang Ming Foo and associate Vicky Cheung.
John Moore commented:
“We are delighted that we have been able to work with one of our most significant investment banking clients on these successful transactions. These deals exemplify our position as the leading equity capital markets practice in the region.”
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