Baker & McKenzie Advises the Underwriters on the US$330 Million Global Offering

12 Mar, 2014

Baker & McKenzie’s securities team advised CITIC Securities, as sole sponsor, and CLSA, as sole global coordinator, on the US$330 million global offering of Poly Culture Group Corporation Limited (“Poly Culture”).  The global offering received overwhelming interest from investors, and the Hong Kong retail offering was over-subscribed by more than 600 times.  The H shares of Poly Culture commenced trading on The Stock Exchange of Hong Kong Limited on 6 March 2014.

Beijing-headquartered, Poly Culture is a leading culture and art enterprise in China.  It has three main business segments: art business and auction; performance and theatre management; and cinema investment and management.  It is the largest art auctioneer in China in terms of aggregate art auction turnover, and is one of the largest theatre management companies in China in terms of the number of theatres in operations.  In 2011, Poly Culture was ranked as one of the “Top Ten Most Influential National Culture Industry Base” by the PRC Ministry of Culture.

The Baker & McKenzie team was led by Beijing-based partner Jackie Lo, and involved Hong Kong-based partner Edwin Li, special counsel Tracy Lam, and associates Isabella Li, Han Bing and Molly Guan.  The team had led responsibility for underwriting documentation, securities and regulatory issues, communication with the regulators and general transaction management.

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