Leading international law firm Clifford Chance has advised CLP Holdings Limited on its US$982 million placing of new shares. The placing was done by way of a tender process whereby selected banks were invited to submit bids to underwrite the placing. The placing agents for this transaction were Goldman Sachs, J.P. Morgan and UBS.
This is the second largest primary share placement in Hong Kong this year after Hong Kong Exchanges and Clearing’s US$1 billion deal on which Clifford Chance also advised.
“We were delighted to assist CLP on this successful placement,” said partner Amy Lo who led on the deal.
Amy was assisted by associate Kenneth Kwan and legal assistant Liu Dandan. US securities law advice was provided by Shanghai-based partner Jean Thio.
CLP Holdings Limited is the holding company for the CLP Group, one of the largest investor-owned power businesses in Asia Pacific. In Hong Kong, CLP supplies electricity to 80% of the population. Outside Hong Kong, CLP holds investment in the energy sector in Australia, Mainland China, India and Southeast Asia.
CLP is listed in the Global Dow – a 150-stock index of the world’s leading blue-chips, the Dow Jones Sustainability Asia Pacific Index (DJSI Asia Pacific), the Dow Jones Sustainability Asia Pacific 40 Index (DJSI Asia Pacific 40) and Hang Seng Corporate Sustainability Index Series.
