Ashurst advises China Qidian Guofeng Holdings on subscription agreement

Global law firm Ashurst has advised China Qidian Guofeng Holdings Limited on the subscription agreement with Noble Trade International Holdings Limited. Under the agreement, Noble Trade International Holdings has conditionally agreed to subscribe for 530,000,000 new shares at the subscription price of HK$0.35 per subscription share, totalling HK$185.50 million. HK$185.50 million will be offset in the outstanding principal amount of the shareholder’s loans.

China Qidian Guofeng Holdings is a retail household appliance, mobile phones, computers, import and general merchandise business in the PRC. Noble Trade International Holdings is an investment company.

Upon completion, HK$185.50 million in the outstanding principal amount of the shareholder’s loans will be deemed fully repaid.

The Ashurst team was led by partner Frank Bi, who was assisted by Counsel Christy Li and junior associates Christy Wong and Chris Ou (Corporate Transactions).