Shandong Gold Mining takes private of Hengxing Gold

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Privatisation, 私有化

Shandong Gold Mining has privatised Hengxing Gold Holding from the Hong Kong stock exchange following its HK$3 billion acquisition. The scheme of arrangement saw A + H-listed Shandong Gold offer its H shares to Hengxing shareholders as consideration for their cancelled shares.

This is the first scheme of arrangement where an A + H-listed company issued H shares in taking a Hong Kong-listed target private, according to a statement by CICC, the offeror’s sole financial adviser. Hengxing Gold’s shares were delisted from the bourse after close of trading on 1 February.

Zhong Lun Law Firm represented Shandong Gold Mining, while Baker McKenzie advised Hengxing Gold.