Announcement

Tongshang Hong Kong is pleased to announce that Christy Leung has joined the firm as a partner in its Litigation Department. Ms. Leung was previously a partner at a reputable international law firm headquartered in Chicago of the United States, that has offices around the United States, Europe and Asia.

Ms. Leung is known for her wealth of experience in handling contentious regulatory matters and complex commercial disputes with a strong focus on the financial services sector. Ms. Leung has advised leading PRC banks, financial institutions, listed companies, licensed corporations and individuals in regulatory proceedings brought by Securities and Futures Commission (SFC), the Hong Kong Stock Exchange (HKEx), Hong Kong Monetary Authority (HKMA) and other regulatory and law enforcement agencies.

Ms. Leung has handled disputes involving a variety of legal claims arising from the Securities and Futures Ordinance (SFO), the codes and guidelines administered by the SFC and the HKMA, the Hong Kong Listing Rules, as well as anti-money laundering (AML) related allegations.

“We are thrilled to have such an outstanding litigator as Christy to join our Hong Kong office,” said Eric Chow, Tongshang’s Hong Kong Managing Partner. “Christy’s appointment reflects our continued commitment to growing our capabilities in order to meet the needs of our clients and to expand our contentious practice.”

Tongshang Hong Kong was recognized as one of the top 30 fastest growing law firms in Asia highlighted in Asian Legal Business (ALB) award. We are committed to providing high quality legal services across a full spectrum of industries to our clients.

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).

Eric Chow & Co. in Association with Commerce & Finance Law Offices (“TSHK”) recently advised Hubei Port (Hong Kong) International Limited (“Hubei Port HK”) as the offeror in the HK$1.98 billion acquisition of 74.81% of the total issued share capital of China Infrastructure & Logistics Group Ltd. (HKEX: 1719) (“CILG”). The acquisition triggered an unconditional mandatory cash offer (the “Offer”) under the Hong Kong Takeovers Code and it involved a HK$200 million financing arrangement. We also assisted Hubei Port HK in handling valid acceptances in respect of a total of 221,719,396 offer shares at an offer price of HK$1.15 per offer share under the Offer, representing approximately 12.85% of the entire issued share capital of CILG. The Offer was successfully closed on 25 March 2022.

Hubei Port HK is indirectly controlled by the State-owned Assets Supervision and Administration Commission of the Wuhan Municipal People’s Government and China International Capital Corporation Hong Kong Securities Limited acted as the financial adviser to Hubei Port HK. The principal businesses of CILG including investment and development, operation and management of container and ports, as well as the provision of port related, logistic and other services including integrated logistics, port and warehouse leasing and the supply chain management and trading business.

TSHK team was led by Eric Chow (Managing Partner) and Priscilla Lee (Partner), supported by Brandon Chow, Jimmy Law (Associate), Kathleen Liu (Trainee Solicitor) and Sofia Long (Trainee Solicitor).

Eric Chow & Co. in Association with Commerce & Finance Law Offices (“TSHK”) advised Hubei Port (Hong Kong) International Limited (“Hubei Port HK”) in the acquisition of approximately 74.81% of the issued shares in China Infrastructure & Logistics Group Ltd. (HKEX: 1719) (“CILG”) at a consideration of HK$1.48 billion and the facility of up to HK$2 billion from China Merchants Bank Co., Ltd. for the acquisition. CILG is a listed company of the Main Board of The Stock Exchange of Hong Kong Limited. The completion of the acquisition took place on 18 January 2022 and triggered the requirement to make an unconditional mandatory cash offer under The Codes on Takeovers and Mergers.

The principal business of the CILG group is the investment in and development, operation and management of container and ports, as well as the provision of port related, logistic and other services including integrated logistics, port and warehouse leasing and the supply chain management and trading business. China International Capital Corporation Hong Kong Securities Limited acted as the financial adviser to Hubei Port HK, which is indirectly controlled by the State-owned Assets Supervision and Administration Commission of the Wuhan Municipal People’s Government.

Tongshang Hong Kong team was led by Eric Chow (Managing Partner) and Priscilla Lee (Partner), supported by Brandon Chow, Jimmy Law (Associate), Kathleen Liu (Trainee Solicitor) and Sofia Long (Trainee Solicitor).