Slaughter and May, Hong Kong, advised Guotai Junan, Macquarie, CLSA, SDICSI, CCBI, Sheng Yuan and Haitong as the placing agents in relation to the placing of 52,000,000 shares of China Risun Group Limited (“China Risun”) by its controlling shareholder, Texson Limited, and the subsequent subscription by Texson Limited of the same number of new shares in China Risun, to raise HK$156 million.
The completion of the placing and subscription was announced on 27 December 2024.
The net proceeds from the placing and subscription will be used by China Risun to optimize its financial structure, including but not limited to repayment of bank borrowings and lease liabilities, as well as for the purpose of general working capital.
China Risun is an integrated coke, coking chemical and refined chemical producer and supplier in China, which has been listed on the Main Board of the Stock Exchange of Hong Kong since 2019 (stock code: 1907).
Hong Kong partner, John Moore, commented, “We are delighted to have advised the placing agents on China Risun’s first top-up placing. Congratulations to all on the successful completion of this deal.”
Electa Yeung / Trainee Solicitor