Linklaters advised the financial advisers on two significant Takeovers Code and Share Buy-backs Code transactions in the Hong Kong SAR market, underscoring its pivotal role as an international financial hub. These included advising on:
- Zhihu Inc.’s HK$427m share buy-back offer by general offer under the Hong Kong Share Buy-back Code. This marks one of the first share buy-back by general offer conducted by an issuer that is a dual-listed entity on both the Hong Kong Stock Exchange (HKEX) and the New York Stock Exchange.
- Grandblue Environment Co Ltd.’s proposed privatisation of Canvest Environmental Protection Group Co Ltd., which is listed on the HKEX. The offer price values Canvest at approximately HK$11.9bn.
Zhihu is a leading online content community in China. Since its launch in 2010, the company has grown from a Q&A community into one of the most comprehensive online content communities and the largest Q&A-inspired online content community in China.
Canvest is a leading operator in the waste-to-energy, environmental hygiene, and smart city management sectors across multiple regions in China, while Grandblue is a prominent environmental services company listed on the Shanghai Stock Exchange, with operations spanning solid waste treatment, energy, water supply and drainage.
The Linklaters team was led by corporate partner Roger Cheng, supported by counsel Tiffany Yan and Annie Chung.
Linklaters covers the full spectrum of corporate work advising buyers, sellers and financial advisers on public takeovers, private M&A, equity capital markets, private equity, joint ventures and commercial partnerships, disposals, corporate restructurings, and board advisory issues. The firm’s corporate practice recently announced the hire of partner Christine Xu who is an ECM specialist, further enhancing the firm’s strength in corporate M&A, ECM and capital markets offerings.
