Main content

Freshfields advises on US$1.27bn rights issue by China Everbright

Freshfields Bruckhaus Deringer (‘Freshfields’) has advised China International Capital Corporation Hong Kong Securities Limited (‘CICC’), sole global coordinator, bookrunner and underwriter in the rights issue of China Everbright International Limited (‘China Everbright’) on the Hong Kong Stock Exchange.

Under the terms of the deal, 1,660,263,592 rights shares will be offered for subscription at the subscription price of HK$6.00 per rights share to the qualifying shareholders who are registered as a member of the company at the close of business on the record date (Wednesday 29 August 2018). The rights shares are expected to be listed on or around 24 September 2018.

China Everbright is a leading player in mainland China’s environmental protection industry and the first one-stop integrated environmental solutions provider in the country. Assuming no new shares are issued other than the rights shares, and no buy-back of shares on or before the record date takes place, the proceeds of the rights issue are expected to be approximately HK$9.962bn (US$1.27bn). China Everbright intends to use the proceeds to implement its existing and future waste-to-energy projects; pursue other environmental protection businesses; and as general working capital.

The Freshfields team advising on the deal was led by partner and head of China equity capital markets Richard Wang and partner Yan Chen.

ENDS

Notes for editors

About Freshfields Bruckhaus Deringer


Freshfields Bruckhaus Deringer LLP is a global law firm with a long-standing track record of successfully supporting the world's leading national and multinational corporations, financial institutions and governments on ground-breaking and business-critical mandates. Our 2,800 plus lawyers deliver results worldwide through our own offices and alongside leading local firms.  Our commitment, local and multi-national expertise and business know-how means our clients rely on us when it matters most.

The Freshfields team was led by: