Issuances, 发行

Electric vehicle manufacturer BYD completed a HK$30 billion H-share placement on 21 January, the largest issuance in China’s new-energy vehicle industry to date. Tian Yuan Law Office acted as legal counsel for the issuer, while JunHe Law Offices advised the placing agent on PRC law.

On 17 December 2020, Xiaomi Group raised US$855 million by selling a seven-year zero-coupon convertible bond on the Hong Kong Stock Exchange. Jingtian & Gongcheng advised on the PRC law to Xiaomi. Previously, the firm acted as PRC counsel to the underwriters in Xiaomi Group’s 2018 IPO on the Main Board of the Hong Kong Stock Exchange.

CITIC Capital completed a non-public offering of A shares in December 2020, raising about RMB3.88 billion (US$601.4 million). Tian Yuan Law Office acted as the issuer’s legal counsel.

The funds raised will be used for developing capital intermediary business, developing investment transaction business, information system construction, and other purposes.