Marking the Third Successful B-H Share Conversion to Date
(June 25, 2014) - Paul Hastings, a leading global law firm, announced today that the firm represented China Vanke Co. Ltd. (“China Vanke”) in converting its B-shares with a total market value of approximately HK$16.3 billion (US$2.1 billion) into H-shares and listing the H-shares on the Main Board of The Stock Exchange of Hong Kong Limited by way of introduction. CITIC Securities Corporate Finance (HK) Limited acted as the sole sponsor.
China Vanke is a leading residential property developer in China, primarily focused on the development, sales and management of quality residential properties.
The successful closing of this transaction marks the third B to H-share conversion – making Paul Hastings the only international law firm to advise on all of the B to H-share projects launched in the market to date.
Paul Hastings advised China International Marine Containers (Group) Co., Ltd., a leading global equipment and solutions provider in the logistics and energy industries, on its B to H-share conversion and the listing of its H-shares by way of introduction. The team recently represented Guosen Securities (HK) Capital Company Limited as the sponsor in the B to H-share conversion and listing of Livzon Pharmaceutical Group Inc.’s H-shares in early 2014.
The Paul Hastings team was led by Raymond Li
, partner and Chair of Greater China, and capital markets partner Zhaoyu Ren
, with support from associates Ke Zhu
, Dane Johansen
, Jason Wang
, trainee solicitor Gladys Tso
, legal managers Erika Zhao, Flora Wu and paralegal Stern Liu.
Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.