Freshfields advises China Unicom on the issue of up to US$11.3 bn of new shares to its parent company in the first transaction under China’s mixed ownership reform
Freshfields Bruckhaus Deringer (‘Freshfields’) has advised China Unicom (Hong Kong) Ltd. on the issue of up to 6.65 billion new shares to its parent company, China Unicom (BVI) Ltd. for an aggregate subscription price of up to US$11.3 bn (HK$88.06bn).
The transaction is part of the mixed ownership reform plan being implemented by China United Network Communications Group Co. Ltd. and is the first transaction under China’s mixed ownership reform of state-owned enterprises.