Sidley advised Yadea Group Holdings Ltd. (HKEX: 1585) in connection with its placement of new shares pursuant to Rule 144A and Regulation S.
Yadea raised approximately HK$857 million (US$109 million) via the placement of 68.8 million new shares at a price of HK$12.58 each. CICC and Credit Suisse acted as placing agents for the transaction.
Yadea is a leading two-wheeled electric vehicle brand in China focusing on the design, research and development, manufacturing, and sales of electric scooters, electric bicycles, and related accessories.
The transaction was led by partners Raymond Oh and Oliver Zhong, with support from counsel Douglas Tsang, senior managing associate Jacob Zhao, senior legal manager Emily Wang, senior legal assistant Stefanie Chan, and trainee solicitor Chantelle Chan.
Sidley has in-depth knowledge in the automotive sector, and has advised a number of electric vehicle makers and their investors in strategic transactions.