Image: Peter Cheng

Peter Cheng

Partner, Corporate Department

Overview

Peter Cheng is a partner in the Corporate practice of Paul Hastings and is based in the firm’s Hong Kong office. Mr. Cheng has a practice focus on Hong Kong IPOs, and has advised on a wide range of equity capital markets transactions. He has also led on matters relating to compliance with Hong Kong Listing Rules, and advised on mergers and acquisitions and private equity investments. Mr. Cheng has particular experience in advising on IPOs and other capital market transactions for, and investments into, Chinese companies across industries, including TMT, automobile and real estate sectors.

In 2016, Mr. Cheng was seconded to the Hong Kong Stock Exchange’s Listing and Regulatory Affairs Division where he was primarily involved in reviewing listing applications as well as developing listing related polices in Hong Kong. In 2009, he was seconded to the legal department of the Hong Kong office of Morgan Stanley where he focused on equity capital markets transactions.

Prior to joining Paul Hastings, Peter worked in the Corporate Department of various international, U.S. and magic circle law firms in Hong Kong. 

Recognitions

  • Equity Market Deal of the Year 2018 for working on the China Literature IPO by Asian Legal Business Hong Kong Law Awards
  • Equity Deal of the Year 2018 for working on the China Literature IPO, IFLR Asia Awards
  • Best IPO in 2017 for working on theChina Literature IPO, FinanceAsia Achievement Awards
  • Honourable Mention in 2017 for working on the China Literature IPO, In-House Community Asian-mena Counsel

Education

  • B.Com., Accounting and Finance, University of Western Australia
  • LL.B., University of Western Australia
  • PCLL, University of Hong Kong
    • Brian McElney Medal in Law

Representations

Capital Markets

IPO:

  • Tencent Holdings Limited on its US$1.1 billion spinoff of China Literature Limited by way of an IPO and separate listing on the Hong Kong Stock Exchange Main Board.*
  • Tongcheng-Elong Holdings Limited on its US$180 million global IPO and Hong Kong Stock Exchange Main Board listing. *
  • Renrui Human Resources Technology Holdings Limited on its US$140 million global IPO and Hong Kong Stock Exchange Main Board listing.*
  • Shenwan Hongyuan as the sole sponsor and joint global coordinator, and CLSA, CMBI and DBS as the other joint global coordinators, and the other underwriters on Flowing Cloud Technology Ltd’s US$68 million global IPO and Hong Kong Stock Exchange Main Board listing.*
  • Tian Li International Company Limited, the controlling shareholder of China Tobacco International (HK) Company Limited, on certain Hong Kong law aspects with respect to China Tobacco International (HK) Company Limited’s US$104 million global IPO and Hong Kong Stock Exchange Main Board listing.*
  • Tongdao Liepin Group on its US$370 million global IPO and Hong Kong Stock Exchange Main Board listing.*
  • China Yongda Automobiles Services Holdings Limited on its US$215 million global IPO and Hong Kong Stock Exchange Main Board listing. *
  • Yoho Group Holdings Limited on its HK$120 million global IPO and Hong Kong Stock Exchange Main Board listing. *
  • JP Morgan as the sole global coordinator and sole sponsor, and BOCOM International, ICBC International, Mizuho Securities, BNP Paribas and Barclays as the joint bookrunners, and the other underwriters on China Hongqiao Group Limited’s US$790 million global IPO and Hong Kong Stock Exchange Main Board listing. *
  • Morgan Stanley as the sole global coordinator, together with UBS as the joint sponsors, together with BOC International as the joint bookrunners and joint lead managers, and the other underwriters on Zhongsheng Group Holdings Limited’s US$387 million global IPO and Hong Kong Stock Exchange Main Board listing. *
  • Credit Suisse as the sole global coordinator, BOC International as the joint bookrunners and joint lead managers, together with Somerley as the joint sponsors, and the other underwriters on Kaisa Group Holdings Ltd.’s US$440 million global IPO and Hong Kong Stock Exchange Main Board listing.*
  • During secondment at Morgan Stanley, advised on the global IPO and Hong Kong Stock Exchange Main Board listings of Sinopharm Group Co. Ltd., China Resources Cement Holdings Limited, Yingde Gases Group Company Limited, Wynn Macau, Limited, Yuzhou Properties Company Limited, Green Holdings Ltd and Longfor Properties Co. Ltd., and a number of block trades and top-up placements.*

Others:

  • Zhongsheng Group Holdings Limited on its HK$2.35 billion convertible bonds repurchase and HK$3.925 billion convertible bonds issuance.*
  • The underwriters on the RMB3.45 billion USD-settled H share convertible bonds by China Railway Construction Corporation Limited.*
  • Mongolian Mining Corporation on its US$201 million global rights offering.*
  • Zhongsheng Group Holdings Limited on the HK$2.35 billion convertible bonds offering.*
  • China Yongda Automobiles Services Holdings Limited on its placing of existing shares to certain placees and subscription of new shares by Asset Link.*
  • The placing agents on the US$129 million top-up placing of shares by Sun Hung Kai & Co. Limited.*
  • The placing agents on the US$218 million placing down and sale of the shares in Goldpoly New Energy Holdings Limited by Jet Mile Limited.*
  • The placing agents on the US$94.8 million placing of new shares by Louis XIII Holdings Limited as part of a financing round through which Louis XIII Holdings Limited also raised an additional US$38.7 million by issue of convertible bonds.*
  • The placing agents on the HK$3.73 billion, HK$4.07 billion and HK$9.78 billion placing of shares by CSPC Pharmaceutical Group Limited.*
  • The placing agents and the joint underwriters in the concurrent US$120 million top-up placing transaction and offering of US$180 million convertible bonds by China Power International Development Limited.*
  • The placing agent on the US$160 million top-up placing by China Everbright International Limited.*
  • The placing agent on the US$216 million placing of primary shares by G-Resources Group Limited.*
  • The placing agent on the US$48.2 million placing down and sale of the shares in Lijun International Pharmaceutical (Holding) Co. Ltd. Held by Victory Rainbow Investment Limited.*
  • China Agri-Industries Holdings Limited, on its US$200 million top-up placing transaction, with Morgan Stanley and J.P. Morgan as the placing agents.*
  • The placing agents on (i) the US$79.5 million top-up placing by Sino Biopharmaceutical Limited and (ii) the US$64.5 million placing down and sale of the shares in Sino Biopharmaceutical Limited held by Conspicuous Group Limited.*
  • The placing agent on the US$154 million top-up placing by Real Gold Mining Limited.*
  • The joint placing agents on (i) the US$67 million top-up placing of Xinyi Glass Holdings Limited and (ii) the US$59 million private placement of Xinyi Glass Holdings Limited by its controlling shareholders.*
  • A PRC petrochemical company in connection with a pre-IPO purchase of exchangeable bonds by certain financial and strategic investors in the amount of US$80 million.*
  • China Zenith Chemical Group Limited, regarding its open offer on the basis of one offer share for every two existing shares held raising approximately HK$200 million.*

Compliance

  • Tencent Holdings Limited, China Yongda Automobiles Services Holdings Limited, Hilong Holding Limited, The People’s Insurance Company (Group) of China, China Nonferrous Metal Mining Group, Mongolian Mining Corporation, Yihai International, Hisense Kelon Electrical Holdings Company Limited, Datang International Power Generation Company Limited, New World China Land Limited, i-CABLE Communications Limited, LVGEM (China) Real Estate Investment Company Limited, United Company RUSAL PLC, Renrui Human Resources Technology Holdings Limited and Yoho Group Holdings Limited in relation to their ongoing compliance with the listing rules of Hong Kong.*

M&A

  • Tencent on its strategic investment with Evergrande Real Estate Group Limited by way of subscription of shares and top-up warrants in Mascotte Holdings Limited for an aggregate consideration of HK$750.7 million.*
  • Baidu Holdings Limited in connection with its US$1.9 billion acquisition of 91 Wireless Websoft Limited.*
  • Forgame Holdings Limited in connection with its proposed US$70 million acquisition of 21% stake in Magic Feature Inc.*
  • TPG on its investment in China Ruifeng Galaxy Renewable Energy Holdings Limited by way of a US$60 million convertible bond and US$15 million warrants.*
  • Chow Tai Fook Group in relation to its HK$505 million acquisition from Peace Mark (Holdings) Limited (through the provisional liquidators appointed for its winding up) of assets relating to the retail and watch movement manufacturing businesses in the Greater China region as a part of the Peace Mark Group’s liquidation.*
  • Hisense Kelon Electrical Holdings Company Limited in relation to its proposed acquisition of “white goods” interests from its controlling shareholder for a consideration of RMB1.24 billion.*
  • An investment corporation in its investment in Bank of Communications. *
  • An investment corporation and CITIC Capital China Access Fund on their US$120 million investment in China Lumena New Materials, a company listed on the Hong Kong Stock Exchange. *
  • SAIF, a major financial institution and other shareholders of NVC Lighting Holding Limited, a company listed on the Hong Kong Stock Exchange, in their sale of a strategic stake to Schneider Electric Limited. *
  • A Singaporean government-linked corporation on a joint bid with a major financial institution to acquire an approximate 14% stake in a PRC life insurance company. *
  • Uniden Corporation, a company listed on the Tokyo Stock Exchange, in relation to its subscription of 20% of the issued share capital of SunCorp Technologies Limited, a company listed on the Hong Kong Stock Exchange. *
  • Mobile Streams, a company listed on the AIM of the U.K., in relation to its acquisition of the entire issued share capital of Mobilemode Limited, a H.K. company trading in mobile phone entertainment contents with businesses in Asia Pacific. *

(*): Matters handled prior to joining Paul Hastings.

Practice Areas

Corporate
Securities and Capital Markets

Languages

英語

Admissions

Hong Kong Solicitor

Education

University of Hong Kong, Faculty of Law, P.C.LL. 2003
The University of Western Australia, LL.B. 2002
The University of Western Australia, B.Com. 2002

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