News Detail

Lantai Partners successfully assisted CRED Holding Co. Ltd. in transferring state-owned shares of listed company

2013-09-05

  On 27th June 2013, the transferal of all the state-owned shares of CRED Holding Co. Ltd. (stock code:600890), held under agreement by China National Real Estate Development Group Corporation, was completed smoothly. The transaction involved a total of 109,799,224 state-owned shares, representing 18.96% of the total share capital of CRED Holding Co. Ltd. The transaction was valued at approximately 430 million Yuan.

  Transferring state-owned shares of a listed company is subject to double regulation from the “State Owned Assets Supervision and Administration Department” and the “Securities Regulatory Authorities”. This is because it involves both the exchange of state-owned assets and an adjustment to the share structure of the relevant listed company. As a result, this process is subject to strict substantive and procedural requirements under the current legislation.

  Lantai Partners was entrusted as the special legal counsel for this transaction. The team was headed by partner Mrs. Sun Lan, and also included lawyer Zhou Man and two other lawyers. The team’s work comprised of fully working out the trade scheme, providing legal advisory papers, revising and negotiating the trade agreement and undertaking stock delivery. The team’s high-quality and efficient delivery of legal services ensured the successful completion of the project, highlighting the specialized standards and professionalism of Lantai Partners in capital business.

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