Slaughter and May is advising Credit Suisse, J.P. Morgan Securities and Guotai Junan Securities - Wasion Group's top-up placing of shares

Slaughter and May, Hong Kong, is advising Credit Suisse (Hong Kong) Limited, J.P. Morgan Securities (Asia Pacific) Limited and Guotai Junan Securities (Hong Kong) Limited, acting as joint placing agents, in relation to Wasion Group Holdings Limited's (Wasion Group) top-up placing of shares, which involves the placing of existing shares and top-up subscription of new shares (the Shares) for a total consideration of HK$734.4 million (approximately US$94 million).

Wasion Group intends to use the proceeds of the Shares for the construction of a new production base for advance distribution operations, potential mergers and acquisitions in relation to its business and for research and development.

Wasion Group is principally engaged in the development, manufacture and sale of electronic power meters and data collection terminals and the provision of software development services.