O’Melveny & Myers LLP advised BOCOM International (Asia) Limited on the deal.
BOCOM International (Asia) Limited acted as financial advisor to Qingdao Holdings International Limited (499.HK), in connection with the company’s acquisition of an 81.91% stake in Qingdao Rural Construction Finance Leasing. The deal constitutes an “extreme very substantial acquisition” (EVSA) and a connected transaction under the listing rules of the Hong Kong Stock Exchange. It involves an issue of approximately HK$2.2 billion (approximately US$284 million) convertible bonds under specific mandate to satisfy part of the consideration and a rights issue of approximately HK$194.7 million (approximately US$25 million) worth of shares to fund the payment of the remaining of the consideration. The total consideration for the acquisition is approximately US$305 million.
Qingdao Rural Construction Finance is a financial leasing company and is principally engaged in the provision of financial leasing and factoring services in the PRC.
The O’Melveny deal was led by Hong Kong corporate partner Edwin Kwok (Picture), with support from Hong Kong counsel Lillian Cheung, trainee solicitor Ronald Lam, legal consultant Tiffany Liu, and paralegal Peiji Yu.
Law Firms: O’Melveny & Myers LLP;
Clients: BOCOM International (Asia) Limited;