Tianli Education International Holdings Limited’s HK$694 Million Top-Up Placing


Slaughter and May, Hong Kong advised China International Capital Corporation Hong Kong Securities Limited and CLSA Limited on the transaction.

China International Capital Corporation Hong Kong Securities Limited and CLSA Limited acted as placing managers, in relation to the placing by Sky Elite Limited of 91,000,000 existing shares (representing approximately 4.39% of the issued share capital of Tianli Education International Holdings Limited (“Tianli Education”)), and top-up subscription by Sky Elite Limited of 91,000,000 new shares (representing approximately 4.20% of the enlarged issued share capital of Tianli Education).

The placing was announced on 16 December 2020. It is expected that there will be not less than six placees.

The net proceeds of the top-up subscription will be used by Tianli Education for (1) potential future mergers and acquisitions of high quality targets at reasonable prices and (2) expansion of self-built and self-operated projects in first-tier and core cities.

The subscription shares will be issued under the general mandate granted by the shareholders of Tianli Education.

Tianli Education is a leading private education service provider and one of the largest private K-12 school operators in Western China. It primarily offers K-12 educational services and tutoring services for K-12 students and pre-kindergarten children. It has been listed on the Main Board of The Stock Exchange of Hong Kong since 2018. Sky Elite Limited currently holds approximately 41.98% of the issued share capital of Tianli Education, and is wholly-owned by Mr. Luo Shi, the executive Director and controlling shareholder of Tianli Education.

Slaughter and May’s team included Lisa Chung (Picture), Partner, John Moore, Partner, Jianhao Zheng, Counsel, Esther Yee, Counsel, Clare Tsang, Associate, Yitian Jin, Associate and Jonathan Hsu, Trainee.

Involved fees earner: Lisa Chung – Slaughter and May; Yitian Jin – Slaughter and May; John Moore – Slaughter and May; Clare Tsang – Slaughter and May; Esther Yee – Slaughter and May; Jianhao Zheng – Slaughter and May;

Law Firms: Slaughter and May;

Clients: China International Capital Corporation Hong Kong Securities Limited; CLSA Limited;

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Author: Michael Patrini