TSHK advised in a HK$510.25 million share placement of China XLX Fertiliser Ltd. (HKEx: 1866)
Eric Chow & Co. in Association with Commerce & Finance Law Offices (“TSHK”) recently advised in a HK$510.25 million placement of shares of China XLX Fertiliser Ltd. (HKEx: 1866) (“China XLX Fert”). In this transaction, Go Power Investments Limited, a substantial shareholder of China XLX Fert, (the “Seller”) sold its 78.5 million shares at HK$6.50 per share on the Hong Kong Stock Exchange, comprising 56.5 million of top-up sale shares and 22 million sell-down sale shares. Upon completion of the placement, the Seller will subscribe for 56.5 million new shares from China XLX Fert, amounting to gross proceeds of approximately HK$367.25 million. CLSA Limited and Essence International Securities (Hong Kong) Limited acted as the Placing Agents in this transaction.
China XLX Fertiliser Ltd. is a high-efficiency fertiliser advocator principally engaged in developing, manufacturing, and selling of products such as urea and compound fertilisers in the PRC.
TSHK team was led by Eric Chow (Managing Partner) and Priscilla Lee (Partner), supported by Brandon Chow, Jessie Cheung (Senior Associate), Evelyn Cheung (Associate) and Jessica Yu (Trainee Solicitor).