Slaughter and May, Hong Kong, is advising China International Capital Corporation Hong Kong Securities Limited (CICC) and J.P. Morgan Securities (Asia Pacific) Limited (J.P. Morgan) as placing managers in relation to the placing of 230,000,000 existing shares in Bosideng International Holdings Limited (Bosideng) representing approximately 2.12% of its total issued shares held by New Surplus International Investment Limited (Seller) (the Placing). The Placing was announced on 1 September 2022 and closed on 5 September 2022, raising HK$906.2 million (approximately US$115.5 million).
The net proceeds of the Placing will be used for redemption of the preference shares of the Seller held by IC International Company Limited, a company jointly held by ITOCHU Corporation and CITIC International Assets Management Limited, and making relevant payments such as dividends on the preference shares.
Bosideng is a renowned operator in the PRC with down apparel brands. It has been listed on the Main Board of the Hong Kong Stock Exchange since 2007.
The Seller is one of the controlling shareholders of Bosideng, holding approximately 35.32% of the total issued share capital of Bosideng prior to completion of the Placing.
CICC is a licensed corporation under the SFO licensed to carry out Type 1 (dealing in securities), Type 2 (dealing in futures contracts), Type 4 (advising on securities), Type 5 (advising on futures contracts) and Type 6 (advising on corporate finance) regulated activities.
J.P. Morgan is a licensed corporation under the SFO licensed to carry out Type 1 (dealing in securities), Type 4 (advising on securities), Type 6 (advising on corporate finance) and Type 7 (providing automated trading services) regulated activities.