Norton Rose Fulbright has advised on the HK$3.33 billion (US$425 million) top-up placement of 900.12 million shares by Chinese property developer, China Jinmao Holdings Group Limited.

The placing price of HK$3.7 per share involved the subscription of the 900.12 million shares by its controlling shareholder, Sinochem Hong Kong (Group) Company Limited. The same number of shares, which represented approximately 7.78% of the enlarged share capital of China Jinmao, were in turn sold to various third-party institutional investors including Kerry Holdings Ltd and New China Life Insurance Co., Ltd.

Norton Rose Fulbright advised HSBC acted as placing agent. Goldman Sachs (Asia) was also placing agent on the deal. The team on the deal was led by Head of Hong Kong Psyche Tai and included Hong Kong partner Vicky Lam and associate Timothy Lam.