Bank of Qingdao Co., Ltd. (BQD) has recently successfully completed its A-share and H-share Rights Issue, raising HK$ 5.134 billion (approximately RMB 4.196 billion). The total amount of funds raised by H-share allotment was approximately HK$ 2.073 billion (approximately RMB 1. 695 billion). This was the first time in recent years that A-share listed bank has conducted an A+ H Share Rights Issue in China’s securities markets.
Bank of Qingdao was founded in November 1996 and is headquartered in Qingdao. It currently has 16 branches across all major cities in Shandong Province. Bank of Qingdao is the first main board listed bank in Shandong Province, and the second city commercial bank with an A+H dual listing in China. The project will assist the bank to further supplement its core tier-one capital and support the sustainable and healthy development of future business success.
JunHe acted as the global coordinator of the H-share allotment and the domestic legal counsel of the underwriter. The team assisted the underwriter in replying to feedback from the International Department of the CSRC, reviewing and confirming the chapters and contents related to Chinese law in the articles of association of the H-share rights issue, and issued Chinese legal opinion required for the project’s delivery. The JunHe team won the recognition and trust of the issuers, underwriters and other intermediaries with its professional, high-quality, rigorous and efficient legal services.
This project was led and main undertook by Partner Mr. FENG, Cheng.