Priscilla Lee

Partner

+852 2151 5166

priscillalee@tongshang.com


Priscilla Lee is a corporate partner in Eric Chow & Co. in Association with Commerce & Finance Law Offices.

Since her practice in Hong Kong in 2008, Ms. Lee has provided legal services to investment banks, the PRC and Hong Kong enterprises and private equity funds. She has a broad range of commercial and corporate finance practice and is specialised in debt financing, private equity, direct investment, IPOs, M&A, and regulatory and compliance matters associated with listed companies in Hong Kong. Prior to joining Commerce & Finance, Ms. Lee worked at the Corporate Finance and ECM Departments of two other leading international law firms in Hong Kong. She then joined the private equity arm of a leading state-owned PRC bank as an in-house senior counsel specialising in debt financing, private equity and direct investment. Priscilla was named as one of the “Female Dealmakers, North Asia” 2021 by Asian Legal Business (ALB). Priscilla continued to be nominated as “Female Dealmakers, North Asia” and “Private Practitioner of the Year, North Asia” by ALB this year. Priscilla was shortlisted as the finalist for “Mergers & Acquisitions Lawyer of the Year” 2022 by Women in Business Law Awards APAC.

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Private Equity and Debt Financing

  • Guiyang Rongcheng Holding Group Co., Ltd. on its issuance of CNY 278 million 4.5%, due 2026 credit enhanced bonds in China (Shanghai) Pilot Free Trade Zone listed on the Chongwa (Macao) Financial Asset Exchange Co., Ltd.
  • Guiyang Rongcheng Holding Group Co., Ltd. on its issuance of CNY 258 million 5.0%, due 2026 credit enhanced bonds in China (Shanghai) Pilot Free Trade Zone listed on the Chongwa (Macao) Financial Asset Exchange Co., Ltd.
  • Medsci Healthcare Holdings Limited in its RMB 300 million round C preferred stock financing and restructuring for its pre-IPO investment.
  • Henan Zhongyuan Gold Control Co., Ltd. in its RMB 2 billion investment in Synear Food China Holdings Limited and its affiliated companies through preferred stock and domestic loan.
  • A leading investment bank in the PRC on its pre-IPO investment in a food & beverage enterprise in the PRC.
  • Zhejiang Baron (BVI) Company Limited,an offshore wholly-owned subsidiary of Hangzhou Shangcheng District Urban Construction & Comprehensive Development Co., Limited (formerly known as “Hangzhou Jianggan District Urban Construction & Comprehensive Development Co., Limited”), in a total of US$200 million, 2.25 per cent. guaranteed bonds due 2024.
  • AMTD Asset Management as underwriter on the US$110 million issue of bonds by Rentian Technology Holdings Limited.
  • Poly Platinum Enterprises Limited on its subscription of a US$100 million convertible bonds issued by Immunotech Biopharm Ltd.
  • CCB International Asset Management on its subscription of a US$620 million convertible bonds issued by Hua Han Bio-Pharmaceutical Holdings Limited.
  • Wan Tai Investments on its subscription of a US$ 232 million convertible bonds issued by Century Sunshine Group Holdings Limited.
  • CCB International Asset Management on its subscription of a US$20 million convertible bonds issued by China Success Finance Group Holdings Limited.
  • CCB International Asset Management on its subscription of a US$45 million convertible bonds issued by Credit China Holdings Limited.
  • CCB International Asset Management on its subscription of a US$20 million convertible bonds issued by Fortunet E-commerce Group Limited.
  • CCB International Asset Management on its subscription of a US$100 million convertible bonds issued by LVGEM (China) Real Estate Investment Company Limited.
  • CCB International Overseas Limited on its subscription of a HK$50 million convertible bonds issued by Polyard Petroleum International Group Limited.
  • CCB International Overseas Limited on its subscription of a HK$100 million convertible bonds issued by HC Group Inc.
  • CCB International Asset Management on the extension of a US$100 million convertible bonds issued by Benevolence Capital Management Company Limited.
  • CCB International Asset Management on its subscription of a US$15 million convertible bonds issued by China First Chemical Holdings Limited.
  • Cheer Hope Limited on its subscription of US30 million convertible bonds issued by China Smarter Energy Group Holdings Limited.
  • CCB International Capital, Haitong International and Oceanwide Securities as joint administrators on a US$180 million issue of bonds by Carnival Group International Holdings Limited.
  • CCB International Asset Management on its subscription of a US$15 million convertible promissory note issued by TutorGroup Limited.
  • Sea Venture Investments Limited on its subscription of a US$15 million convertible promissory note issued by J.Q. Pictures Holdings Limited.
  • CCBI Solar Energy (Holding) Limited on its subscription of a US$35 million convertible promissory note issued by New Focus Auto Tech Holdings Limited.
  • CCB International Asset Management on its subscription of the US$780 million note and warrants issued by Lead Ahead Limited.
  • Tongda Group Holdings, a one-stop service provider of consumer electronics casings products, on its US$114 million issue of convertible bonds to PA Marco Opportunity VIII Limited.
  • Asia Allied Infrastructure on its issue of convertible bonds in the amount of US$27 million to Sun Hung Kai Structured Finance.
  • CCB International on the amendments to its purchase of US$9.28 million and US$6.19 million convertible bonds issued by Pa Shun Pharmaceutical International, a Chinese pharmaceutical distribution and manufacturing company.
  • Cheer Hope Limited on its subscription of a US40 million note issued by Allied Way International Enterprise Limited.
  • Cheer Hope Limited on its subscription of a US10 million note issued by Sanpower (Hong Kong) Company Limited.
  • Cheer Hope Limited on its subscription of a US100 million note issued by Macro-link International Investment Co. Ltd.
  • Cheer Hope Limited on its subscription of a US50 million note issued by Youyuan International Holdings Limited.
  • CCB International Asset Management on its subscription of a US$65 million note issued by Shi Hui Holdings Limited.
  • CCB International Asset Management on its subscription of a US$15 million note issued by China Ludao Technology Company Limited.
  • Design Time Limited on its subscription of a US$15 million note issued by Cathay International Pharma Manufacture and Distribution (China) Limited.
  • CCB International Asset Management on its subscription of a US$60 million note issued by HFI International (HK) Limited.
  • CCB International Asset Management on its subscription of a US$250 million note issued by China Infrastructure Investment Limited.
  • CCB International Asset Management on its subscription of a US$70 million note issued by China All Access (Holdings) Limited.
  • CCB International Asset Management on its subscription of a US$337 million note issued by TTM Capital L.P.
  • XIYI Investments on its issue of a US$70 million note to Zhongtai Financial Investment Limited and Orient Sun Rise Fund Series SPC.
  • High Inspiring Limited on its subscription of a HK$55 million [*] issued by Golden Circuit Ventures Limited.
  • Wan Tai Investments on the subscription and extension of a US$80 million issued by China Leon Inspection Holding Limited.
  • Sea Venture Investments Limited on the extension of a US$60 million note issued by Da Ming International Holdings Limited.
  • CCB International Overseas on the subscription of shares in the amount of US$30 million in Weidong Cloud Education Group Holdings Company Limited.
  • Macau Legend Development, a company providing entertainment and casino gaming facilities and hotel service in Macau, on the share charge between its controlling shareholders and Deutsche Bank, Credit Suisse and ICBI (Macau).
  • CCB International in its direct investment, issues of bonds, notes, convertible bonds, convertible notes and other items.

Capital Markets

  • China XLX Fertiliser Ltd in its HK$510.25 million placement of shares. CLSA Limited and Essence International Securities (Hong Kong) Limited acted as the Placing Agents in this transaction.
  • China Everbright Capital Limited on the US$53 million global offering and Hong Kong IPO of Semk Holdings International Limited. Semk Holdings International Limited is the second largest domestic character IP company in China.
  • CMB International, CCB International, Fortune (HK) Securities, First Shanghai, Haitong International and ABCI Securities on the US$47 million Hong Kong IPO and Regulation S placing of China Beststudy Education Group, the largest K-12 after-school education service provider in southern China and the fifth largest nationwide.
  • CIMB on the US$45 million Hong Kong IPO and Regulation S placing of Evergreen Products Group Limited, one of the leading global manufacturers of hair goods, including wigs, hairpieces, braids and high-end human hair extensions, with manufacturing bases in Bangladesh and the PRC.
  • Hang Sang (Siu Po), a producer of apparel labels and packaging printing products, on its Hong Kong IPO and Regulation S placing of Hang Sang (Siu Po) sponsored by VC Capital and Gram Capital. This IPO recorded 2,182 times over-subscription, being the third largest over-subscribed IPO in Hong Kong.
  • CLSA, CITIC Securities, Credit Suisse, BOCOM International and CIMB Securities on the US$284 million Hong Kong IPO and Rule 144A placing of Macau Legend Development, one of the leading owners of entertainment and casino gaming facilities in Macau and a gaming service provider in Macau.
  • Carpenter Tan Holdings, the largest corporation in Chongqing, the PRC for the design, manufacture and distribution of wooden accessories, and the operation of a franchise and distribution network of wooden accessories in the PRC, on its US$18 million Hong Kong IPO and Regulation S placing of Carpenter Tan Holdings sponsored by First Shanghai Capital.
  • VC Capital on the US$14 million Hong Kong IPO and Regulation S placing of CL Group (Holdings), one of the licensed corporations providing securities brokerage, trading and advisory services, margin and other loan financing services in Hong Kong.
  • Morgan Stanley on a US$222 million placing of shares and a US$111 million top-up placing of shares of China Medical System Holdings, a Chinese pharmaceutical services company.
  • Standard Chartered Securities on a US$55 million and a US$94 million placing of H shares of New China Life Insurance, an insurance company providing life insurance and wealth management services.
  • UBS and Deutsche Bank on a US$551 million placing of new H shares of BYD Company, a leading electric vehicle and rechargeable battery manufacturer in China.
  • UBS on a US$154 million placing of H shares of Tong Ren Tang Technologies, a leading Chinese pharmaceutical company engaged in the production and distribution of Chinese medicines.
  • Macquarie on a US$82 million placing of shares of Mongolian Mining Corporation, a Mongolia-based company engaged in the mining of coking coal.
  • CLSA on a US$51 million placing of new shares of CITIC Dameng Holdings, the world's largest producer of manganese.
  • Jefferies Hong Kong on a US$61 million top-up placing of shares of O-Net Technologies, a telecommunications solutions provider.
  • CIMB Securities on a US$19 million placing of shares of TK Group, a leading one-stop total plastics solutions provider in the PRC.
  • CLSA and CITIC Securities on a US$155 million top-up placing of shares of Xinyi Glass Holdings, a China-based company engaged in the production of glass products.
  • Macau Legend Development, one of the leading owners of entertainment and casino gaming facilities in Macau and a gaming service provider in Macau, on a US$176 million top-up placing of shares. CLSA and Credit Suisse were the joint placing agents and joint bookrunners.
  • DBS Asia Capital and Nomura International (Hong Kong) on a US$665 million rights issue by Chong Hing Bank, a commercial bank in Hong Kong, and a US$129 million issue of new shares in Chong Hing Bank to Guangzhou Metro Investment Finance (which is wholly owned by Guangzhou Metro Group, a wholly State-owned company under the Guangzhou Municipal Government).
  • Asia Allied Infrastructure on a US$48 million open offer.
  • UBS on a US$155 million rights issue by G-Resources Group, an Asian gold mining company.
  • SIM Technology, a leading Chinese telecommunications company, on a US$22 million rights issue and whitewash waiver application.

Compliance and Others

  • Various listed companies including Shanghai Dongzheng Automotive Finance Company Limited (stock code: 2718), COSCO SHIPPING Holdings Company Limited (stock code: 1919), China Life Insurance Company Limited (stock code: 2628), Great World Company Holdings Limited (stock code: 8003), Lamtex Holdings Limited (stock code: 1041), Ourgame International Holdings Limited (stock code: 6899), Edvantage Group Holdings Limited (stock code: 0382), AviChina Industry & Technology Co., Ltd. (stock code: 2357), Cheerwin Group Limited (stock code: 6601), Cinese International Group Holdings Limited (stock code: 1620), Infinities Technology International (Cayman) Holding Limited (formerly known as “Jiu Zun Digital Interactive Entertainment Group Holdings Limited”) (stock code: 1961), ZONBONG LANDSCAPE Environmental Limited (stock code: 1855), Evergreen Products Group Limited (stock code: 1962), Top Spring International Holdings Limited (stock code: 3688), Macau Legend Development Limited (stock code: 1680), Greentown China Holdings Limited (stock code: 3900), Hailiang International Holdings Limited (stock code: 2336), Longrun Tea Group Company Limited (stock code: 2898) and Carpenter Tan Holdings Limited (stock code: 0837) as their annual retained legal counsels on their compliance with the Hong Kong Listing Rules.
  • Macau Legend Development on its indirect participation in the gaming promotion business in Macau through the entering into of the VIE agreements.

Mergers and Acquisitions

  • China Gate Investments Limited, an indirect subsidiary of Shougang Group, in the acquisition of the 728 million shares, approximately 10% of the total issued shares of Shoucheng Holdings Limited (HKEx: 0697) for HK$1.1 billion.
  • International Alliance Financial Leasing (HKEx: 1563) in an acquisition of 70.00% of interests in Yantai Nanshan University, from Nanshan Holdings Co., Ltd. for a consideration of RMB 566 million, which constitutes an Extreme Transaction and a Connected Transaction under the Hong Kong Listing Rules.
  • Infinities Global Technology Limited Partnership (HKEx: 1563) in an acquisition of approximately 49.00% of the issued shares in Infinities Technology International (Cayman) Holding Limited (formerly known as Jiu Zun Digital Interactive Entertainment Group Holdings Limited) (HKEx: 1961), which triggered the requirement to make a mandatory unconditional general offer (the “General Offer”) under the Hong Kong Takeovers Code.
  • Hubei Port (Hong Kong) International Limitedin the HK$1.98 billion acquisition of 74.81% of the total issued share capital of China Infrastructure & Logistics Group Ltd. (HKEx: 1719). The acquisition triggered an unconditional mandatory cash offer (the “General Offer”) under the Hong Kong Takeovers Code and it involved a HK$200 million financing arrangement.
  • Edvantage Group Holdings Limited (HKEx: 0382) in its RMB 750 million acquisition of 51% equity interest in Sichuan New Concept Education Investment Co., Ltd and Chengdu Yude Logistics Management Co., Ltd., which constitutes a Connected Transaction under the Hong Kong Listing Rules. This deal is recognised as "Deal of the Year: Education category" by China Business Law Journal 2022.
  • Inner Mongolia Fuyuan International Industrial (Group) Co. Ltd. (“Fuyuan”) to enter into the sale and purchase agreement with China Modern Dairy Holdings Ltd. (“Modern Farming”, HKEx: 1117.HK), Inner Mongolia Mengniu Dairy (Group) Co., Ltd. and others. Modern Farming acquired the entire equity interests in Fuyuan for RMB3.4 billion (approximately US$534 million).
  • Tomorrow Education Technology Limited on its US$35 million acquisition of 75% of the issued shares in CTEH INC. (HKEX: 1620), a listed company of the Main Board of the Hong Kong Stock Exchange. The acquisition triggered the requirement to make a mandatory unconditional general offer (the “General Offer”) under the Hong Kong Takeovers Code.
  • Top Spring International on its US$60 million acquisition of 49% of all the units in the Silver Pond Unit Trust and 49% of the issued share capital of the trustee of Trust (the trustee is entitled to acquired certain parcels of land in New South Wales, Australia) from New Spring Developments Pty Ltd.
  • Top Spring International on its US$88 million acquisition of the entire issued share capital of Unique Prosper (a company which owns Grand Pujian Residence in Shanghai, the PRC, comprising a residential serviced apartment, office and retail podium and car parks) from Real Estate Capital Asia Partners III L.P..
  • Top Spring International on its US$17 million disposal of 3.06% of the equity interest in Shanghai Fengdan Lishe Real Estate to a wholly-owned subsidiary of Sunac China (a property developer in the PRC listed on the Hong Kong Stock Exchange).
  • Macau Legend Development on its US$42 million acquisition of Savan Vegas Hotel and Entertainment Complex from the Government of the Lao People's Democratic Republic, a full-service casino, hotel and resort located in Nongdeune Village, Kaisonphomvihanh District, Savannakhet Province of the Lao People's Democratic Republic.
Manchester Metropolitan University, LLB, 2002
The City University of Hong Kong, Postgraduate Certificate in Laws, 2006
Hong Kong
English, Mandarin, Cantonese