Baker McKenzie advised CITIC Securities (Hong Kong) Limited, as the financial adviser to Skyworth Group Limited ("Skyworth"; Stock Code: 751), on its voluntary cash offer to buy back approximately 341 million shares at HKD 3.11 per share. The cash consideration payable by Skyworth is approximately HKD 1.06 billion (equivalent to approximately USD135 million).
Skyworth is principally engaged in the manufacture and sales of smart TV, home access systems, photovoltaic products, smart white appliances, intelligent manufacturing, internet value-added services, property development, property holding, modern services, and the trading of other products.
The Baker McKenzie team consisted of Co-chair of Asia Pacific Capital Markets Practice Christina Lee, Partner Brian Wong and Associate Michael Chau.
Commenting on the deal, Christina Lee said, "We are delighted to have assisted our long-standing client, CITIC Securities in relation to Skyworth Group's share buyback. We look forward to continuing to support CITIC Securities across the full spectrum of capital markets transactions."
Baker McKenzie is one of the leading firms for complex transactions, providing strategic advice on deals involving the world's leading financial institutions and multinational companies. The Firm regularly advises target companies, offerors, selling shareholders and financial advisers on the acquisition and disposal of companies listed on stock exchanges in key major financial centers, as well as issuers on their proposed listing and fund-raising activities in different jurisdictions. With many of its lawyers enjoying established working relationships with local regulators in Hong Kong and other key markets, the Firm is able to guide clients through all stages of the process, providing valuable insights on regulatory developments that could impact the value and feasibility of cross-border transactions, as well as on ongoing compliance issues. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades. Moreover, the team has extensive experience in advising clients on cross-border capital fund-raising under different schemes, including the Shanghai-London Stock Connect and the China-Switzerland Stock Connect.
Skyworth is principally engaged in the manufacture and sales of smart TV, home access systems, photovoltaic products, smart white appliances, intelligent manufacturing, internet value-added services, property development, property holding, modern services, and the trading of other products.
The Baker McKenzie team consisted of Co-chair of Asia Pacific Capital Markets Practice Christina Lee, Partner Brian Wong and Associate Michael Chau.
Commenting on the deal, Christina Lee said, "We are delighted to have assisted our long-standing client, CITIC Securities in relation to Skyworth Group's share buyback. We look forward to continuing to support CITIC Securities across the full spectrum of capital markets transactions."
Baker McKenzie is one of the leading firms for complex transactions, providing strategic advice on deals involving the world's leading financial institutions and multinational companies. The Firm regularly advises target companies, offerors, selling shareholders and financial advisers on the acquisition and disposal of companies listed on stock exchanges in key major financial centers, as well as issuers on their proposed listing and fund-raising activities in different jurisdictions. With many of its lawyers enjoying established working relationships with local regulators in Hong Kong and other key markets, the Firm is able to guide clients through all stages of the process, providing valuable insights on regulatory developments that could impact the value and feasibility of cross-border transactions, as well as on ongoing compliance issues. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades. Moreover, the team has extensive experience in advising clients on cross-border capital fund-raising under different schemes, including the Shanghai-London Stock Connect and the China-Switzerland Stock Connect.
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