Davis Polk is advising Zhongsheng Group Holdings Limited in connection with its repurchase of HK$2.35 billion zero coupon convertible bonds due 2018 and the issuance of HK$3.925 billion zero coupon convertible bonds due 2023. The convertible bonds will be listed on The Stock Exchange of Hong Kong Limited. The completion of the transactions is subject to, among other things, approvals from The Stock Exchange of Hong Kong Limited.
Zhongsheng Group is incorporated in the Cayman Islands with its shares listed on The Stock Exchange of Hong Kong Limited. It is a national automobile distribution group in China, which is principally engaged in providing one-stop services including sales of new and second-hand automobiles, after-sales, refitting, parts and accessories, financial, insurance and leasing services.
The Davis Polk corporate team includes partners Paul Chow and James C. Lin, counsel Peter Cheng and associate Nicholas Cheung. All members of the Davis Polk team are based in Hong Kong office.