Chungs Lawyers, the associated firm of DeHeng in Hong Kong, being the legal advisers to the Joint Lead Managers and the Trustee, advised Fuzhou Digital Economy Investment Group Co., Ltd (抚州市数字经济投资集团有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) on its issuance of U.S.$96,000,000 6.0% credit enhanced bonds due 2025 with the benefit of an irrevocable standby letter of credit provided by Bank of Jiujiang Co., Ltd., and listed on the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”).
Established in 2015, the Issuer is the core operating entity carrying out infrastructure constructions in Fuzhou City and is wholly owned by the Fuzhou City SASAC (抚州市人民政府国有资产监督管理委员会). Leveraging on the development of Jiangxi Province and Fuzhou City, strong shareholder’s support and an experienced management team of the Group, the Group has undertaken and completed a large number of municipal development projects and plays an important role in the development of Fuzhou City.
Listing of the bonds on the Hong Kong Stock Exchange commenced on 19 September 2022 (Stock code: 5529).
The Partner of Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, Lily Liang, led the team including Jason Wong, Vanessa Lai, Darryl Ting, Christina Yip, Connie Ip, Catherine Kwok, Dexter Yeung, Lilian Kwong, Fairy Wang, Evelyn Fan, Jeff Wang, Andy Kwok, Neil Wang, Sherry Zhang, Liz Tang and Vince Chan.