Slaughter and May, Hong Kong, advised China International Capital Corporation Hong Kong Securities Limited and Merrill Lynch Limited on the transaction.
China International Capital Corporation Hong Kong Securities Limited and Merrill Lynch (Asia Pacific) Limited acted as placing managers, in relation to the placing by a wholly-owned subsidiary of CDH Fund V, L.P., Easy Home Limited (“CDH”) of 109,226,000 existing shares (representing approximately 3.20% of the issued share capital of JS Global Lifestyle Company Limited (“JS Global”)), and partial top-up subscription by CDH of 76,458,000 new shares (representing approximately 2.19%% of the enlarged issued share capital of JS Global).
The placing was announced on 24 September 2020 and includes a R144A placing. It is expected that there will be not less than six placees.
The net proceeds of the top-up subscription will be used by JS Global for the repayment of revolving credit facilities and/or for general working capital purposes.
The subscription shares will be issued under the general mandate granted by the shareholders of JS Global.
JS Global is a global producer of small household appliances. It has been listed on the Main Board of The Stock Exchange of Hong Kong since 2019. Easy Home Limited currently holds approximately 8.67% of the issued share capital of JS Global, and is wholly-owned by CDH Fund V, L.P., a private equity fund.
Slaughter and May’s team included Benita Yu (Picture), Partner, John Moore, Partner, Jianhao Zheng, Counsel, Esther Yee, Counsel, Clare Tsang, Associate and Yitian Jin, Associate.
Involved fees earner: Yitian Jin – Slaughter and May; John Moore – Slaughter and May; Clare Tsang – Slaughter and May; Esther Yee – Slaughter and May; Benita Yu – Slaughter and May; Jianhao Zheng – Slaughter and May;
Law Firms: Slaughter and May;