In May 2014, senior partners Xu Lihua and Ye Yuanhua from Dacheng’s Ningbo office were retained to act as PRC law counsel for Shenzhou International Group Holdings Limited (hereinafter referred to as “Shenzhou International”) on the offshore issuance of HK$3.9bn worth of convertible bonds (at a coupon rate of 0.5%).
The bonds were issued on June 18, 2014 with HK$3.83bn in net proceeds and were listed on the Stock Exchange of Hong Kong the next day.
Shenzhou International (stock code: 2313) was launched on the Main Board of the Stock Exchange of Hong Kong in November 2005. As the largest vertically integrated knitwear manufacturer in China, it produces quality knitwear for world-renowned brands such as Uniqlo, Nike, Adidas and Puma on an OEM basis.
