Global legal practice Norton Rose Fulbright has advised BNP Paribas Securities (Asia) Limited as the sole placing agent in the top-up placing of 52 million shares in Summit Ascent Holdings Limited. The total value of the shares is approximately HK$588 million.
Summit Ascent is primarily engaged in trading of tiles and engineering operations products. The top-up placing is mainly to raise funds for further investments for a gaming and resort project in Russia and general working capital.
The transaction involves a placing agreement entered between the controlling shareholder, Summit Ascent and BNP Paribas in relation to the placing of the Placing Shares. It also involves a subscription agreement between the controlling shareholder and Summit Ascent.
The team was led in Hong Kong by Corporate partners Psyche Tai and Andrew Bleau, assisted by senior associate Vicky Lam and associate Marco Cheng.
