Slaughter and May advised J.P. Morgan on a USD221m secondary block trade by a controlling shareholder of Bosideng International Holdings Limited

Slaughter and May, Hong Kong, advised J.P. Morgan Securities (Asia Pacific) Limited (“J.P. Morgan”) as placing manager in relation to the placing of 400,000,000 existing shares in Bosideng International Holdings Limited (“Bosideng”) representing approximately 3.64% of its total issued shares held by New Surplus International Investment Limited (Seller) (the “Placing”). The shareholder held by the Seller in Bosideng will reduce to approximately 11.96% of the total issued shares of the Bosideng after the Placing. The Placing was announced on 3 July 2024 and closed on 5 July 2024, raising HK$1,724.0 million (approximately US$220.6 million).

The net proceeds of the Placing will be used for capital needs and development of charity work of the Seller.

Bosideng is a renowned operator in the PRC with down apparel brands. It has been listed on the Main Board of the Hong Kong Stock Exchange since 2007. Slaughter and May, Hong Kong, previously advised on the secondary block trade by the Seller of Bosideng in 2022.

The Seller is one of the controlling shareholders of Bosideng, holding approximately 15.6% of the total issued share capital of Bosideng prior to completion of the Placing.

J.P. Morgan is a licensed corporation under the SFO licensed to carry out Type 1 (dealing in securities), Type 4 (advising on securities), Type 6 (advising on corporate finance) and Type 7 (providing automated trading services) regulated activities.

Benita Yu, lead partner, comments: “ We are pleased to have worked on a secondary placing relating to Bosideng again. This, with other deals that we have done recently, shows an increase in market activities which we hope will continue for the rest of 2024.”