CONSTANCE CHOY is a member of Sidley’s Executive Committee and is a partner in the Hong Kong office. Her practice covers a broad spectrum of securities, mergers and acquisitions and Hong Kong listed companies work including initial public offerings, secondary equity and equity-linked offerings, public company takeovers and reverse takeovers, as well as restructurings of listed companies. In particular, Constance has significant experience of listings on the Stock Exchange of Hong Kong (SEHK) – Main Board and GEM Board, and has represented many of the major underwriters and sponsors as well as local, P.R.C. and off-shore listed companies.
Examples of Constance’s significant experience include representation of:
- Goodbaby International Holdings Ltd. in its acquisition of Evenflo Co. Inc. for US$143 million. The agreement is definitive and binding pending Goodbaby shareholder approval;
- Lerado Group, one of the largest Hong Kong-based juvenile product manufacturers in China, in its agreement to sell its juvenile business to Dorel Industries Inc. Dorel Industries is a Canadian company which is principally engaged in the manufacture and sale of juvenile and bicycle products. The purchase price has been established at HK$930 million (US$120 million), subject to adjustments, and will be due upon closing;
- Tingyi (Cayman Islands) Holding Corp in its strategic alliance with PepsiCo. Inc. in which PepsiCo transferred its bottling business in China to Tingyi’s beverage subsidiary in exchange for a 5% shareholding in this subsidiary with a combined business totaling US$12 billion. This transaction was named in 2011 as a Deal of the Year by China Business Law Journal;
- Industrial & Commercial Bank of China International (ICBCI) in the US$70 billion share offering on the New York Stock Exchange by Petrobras, a state-owned oil company in Brazil. This global offering was the largest in capital market history. ICBCI was the only Chinese investment bank involved in the offering and this was the first time that a Chinese investment bank has taken a key role in a major share issuance outside mainland China and Hong Kong. This transaction was named Deal of the Year – The Best from 2010 by Asian Counsel;
- United Company Rusal Ltd. in connection with its US$2.24 billion IPO on the SEHK and its listing on the Paris-based Euronext. Taken together, the two transactions (SEHK/Euronext) mark the first ever Hong Kong-Paris dual listing for any company and was Hong Kong's first ever primary offering by a Russian company. This transaction was named Deal of the Year – The Best from 2010 by Asian Counsel;
- Sands China Ltd. in connection with its US$2.5 billion IPO listed on SEHK with concurrent global placement pursuant to Regulation S and Rule 144A. Sands China is the Macau-unit of the Las Vegas Sands Corp. casino operators. This transaction was named Equity Deal of the Year by IFLR and by China Law and Practice in 2010; and
- Gome Electrical Appliances Holding Limited on its issue of English law governed RMB 2,050 million USD settled 3% Coupon Convertible Bonds due 2014. Gome is one of the largest electrical appliance retailers in China and a longstanding client of the firm. This transaction was named in 2009 as the “Best Deal in China” by The Asset.
Constance has been recognized as a leading lawyer for capital markets work in Hong Kong and China by IFLR 1000, Chambers Global and Chambers Asia and for corporate practice by Asialaw Leading Lawyers. In the 2012 edition of Chambers Asia Pacific, she is described as being "highly commercial and very result-oriented," and much valued for her "deep connection with clients."
Constance is fluent in Cantonese and Mandarin Chinese, and English.