Recently, JunHe acted as international legal counsel and listing agent for the issuer and assisted Jiangsu Hanrui Corporation (followed as “Jiangsu Hanrui”) in the initial and follow-up issuance of USD 490 million offshore dollar bonds through its BYI subsidiary Hanrui Overseas Investment Co., Ltd. Jiangsu Hanrui vouched for the two issuance and the bonds have already been listed on the Singapore Exchange.
Jiangsu Hanrui was founded in 1993 and is an SOE owned by the Zhenjiang Municipal Administration. The registered capital was RMB 5 billion and owned 7 subsidiaries including Jiangsu Dagang Limited (SZEX stock code: SZ.002077), Jiangsu Hanrui Construction Limited, Zhenjiang New Region Public Construction Limited, Zhenjiang Xinnong Development Limited, Jiangsu Hanrui Financial Holding Limited, Jiangsu Hanrui asset management Limited and Finance and Operation Management Center and over 90 joint-stock enterprises. The main businesses of Jiangsu Hanrui included municipal development and operation, high-tech industry investment, financial investment and modern agriculture and formed a development platform with 5 functions including financing, investment, developing, building and operation.
JunHe acted as British legal counsel for the issuer and provided whole-set legal services including issuing structures, a listing circular letter and deal documents. Meanwhile, JunHe represented the issuer to negotiate with the HKEx and Singapore Exchange on the listing arrangements as the listing agent. Finally, based on the actual demands of the listing and weighing about the listing regulations of different Exchanges, JunHe advised Jiangsu Hanrui in listing on the Singapore Exchange. The unique point of the listing is that the bonds were not immediately listed since the initial issuance but were listed together on the the Singapore Exchange since the follow-up issuance was completed and combined with the initial listing.