Sidley Advises Wasion Holdings Limited on Its Top-Up Placing of Existing Shares and Subscription of New Shares

Sidley represented Wasion Holdings Limited (HKEX: 3393) in connection with its top-up placing of existing shares and subscription of new shares under general mandate. The net proceeds to be received are estimated to be HK$1.474 billion (US$188.2 million). The joint placing agents were China International Capital Corporation Hong Kong Securities Limited and Citigroup Global Markets Limited.

Funds raised from the placing will support Wasion Holdings’ business development, domestic R&D, investment in smart manufacturing and market expansion. Wasion Holdings is a leading solution provider of advanced metering, advanced distribution and energy efficiency management in China. 

The Sidley team was led by partner Christopher Cheng, with the support of Selina Wong and Maggie Lam.

Sidley has been ranked in Equity Capital Markets by Chambers Greater China Region/Asia Pacific for over a decade. It was the winner of the distinguished “Securities Firm of the Year” award at the Law.com International’s Asia Legal Awards 2024, and was named “Capital Markets Firm of the Year” by China Business Law Awards 2025.