King & Wood Mallesons represented Qingdao West Coast Holdings (Internation) Limited (Qingdao West Coast) as the offeror under the laws of the Hong Kong SAR in the unconditional mandatory cash offer (the “General Offer”) to acquire all the issued shares in the Hong Kong-listed Prosper Construction Holdings Limited (Prosper Construction, Stock code: 6816), a company listed on the Main Board of The Stock Exchange of Hong Kong.
The General Offer was successfully completed on 3 October 2018 at approximately HK$1.32 per share of Prosper Construction, valuing at more than HK$1.05 billion. Guotai Junan Capital Limited acted as Qingdao West Coast’s financial adviser.
The ultimate parent company of Qingdao West Coast is a PRC state-owned group which is principally engaged in infrastructure construction, land and real estate development and other industrial investments and operations including the provision of cultural, tourism and financial services. Prosper Construction and its subsidiaries are principally engaged in the provision of marine construction services and leasing and trading of vessels.
The KWM Hong Kong team was led by Dr. Sheldon Tse, Partner and Head of Corporate & Securities, with support from senior associate Jeff Wong, associates Angela Chung, Christine Lau and registered foreign lawyer Jane Bu.