O’Melveny Represents Central China Real Estate Limited in US$132 Million Share Issuance
June 7, 2018
FOR IMMEDIATE RELEASE
HONG KONG—June 7, 2018—O’Melveny represented Central China Real Estate Limited (CCRE) in its issuance of new shares to Joy Bright Investments Limited and third party subscribers. Approximately US$132 million was raised from the issuance.
Joy Bright Investments Limited is solely and beneficially owned by CCRE’s chairman and executive director, Mr. Wu Po Sum. Upon closing of the transaction, Mr. Wu would control over 50% of CCRE. The transaction involved a whitewash waiver application under the Hong Kong Takeovers Code and has been approved by independent shareholders.
The O’Melveny team was led by partner Edwin Kwok and included counsel Lillian Cheung, associate Wendy Kan, and trainee solicitor Edward Poon.
CCRE is a Hong Kong-listed real estate development company and is a leading property developer in China’s Henan province. In addition to residential and commercial properties, it also invests in hotels and cultural tourism projects.
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