Recently, DeHeng Hong Kong, acted as the Hong Kong legal advisers to Yanchang Petroleum International Limited (“Yanchang Petroleum International”) (Stock Code: 346) in respect of the share consolidation of 20 shares into 1 new share, following the introduction of strategic investments from Chang An Huitong Co., Ltd. (a wholly-owned subsidiary of Shaanxi Province SASAC) earlier this year.
Yanchang Petroleum International engages in both the upstream and downstream sectors of the oil and gas Industry and is an important platform to develop the overseas business of the Yanchang Petroleum Group, the majority shareholder of Yanchang Petroleum International. Yanchang Petroleum Group is among the top four state-owned oil and gas enterprises in China, which ranked No. 234 in the Fortune Global 500 in 2021.
DeHeng Hong Kong is primarily responsible for the planning of the share consolidation, drafting of relevant documents and replies to the queries raised by The Stock Exchange of Hong Kong Limited, providing comprehensive, efficient and professional legal services to the client. The deal was led by lead partner Howard Lau and supported by associate Alaida Au and legal assistant Timothy Cheung.