The listing of Shanghai Industrial Holdings’ recently issued bonds showcases how the simplified regime under the revised Hong Kong Listing Rules can reduce the time required for debt issued to professional investors.
Freshfields Bruckhaus Deringer advised Hong Kong-listed Shanghai Industrial Holdings on its issuance of HK$3.9 billion (US$502.7 million) zero coupon guaranteed convertible bonds due in 2018, and assisted the listing of the bonds on the main board of the Hong Kong Stock Exchange. The bonds were listed within 10 working days after the initial listing application.
“The simplified listing regime … is set out in chapter 37 of the Listing Rules,” Andrew Heathcote, a finance partner at Freshfields in Hong Kong, told China Business Law Journal. “The regime under chapter 37 simplifies the application process in terms of documentation, procedure and approvals.
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