Sidley has represented Ronshine China Holdings Limited (Ronshine China) on the placing of existing shares of its controlling shareholder and top-up subscription for its new shares by its controlling shareholder under general mandate. Ronshine China has raised approximately HK$1.1 billion in this share placement. The estimated net proceeds will be applied for Ronshine China’s development purposes and as general working capital of the company.
Ronshine China is a Hong Kong-listed investment holding company principally engaged in the development of real estate properties in the P.R.C., including sale and rental of properties and construction contracting related businesses.
The Hong Kong-based Sidley team was led by partner Sherlyn Lau, with support from senior associate Anna Chow and associate Rui Zhang.