Slaughter and May is advising the joint placing agents - China Harmony Auto's top-up placing of shares

Slaughter and May, Hong Kong, is advising Credit Suisse (Hong Kong) Limited and Haitong International Securities Company Limited, acting as joint placing agents, in relation to China Harmony Auto Holding Limited's (China Harmony Auto) 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$2.1 billion (approximately US$273 million).

China Harmony Auto intends to use the proceeds from the placing of the Shares for the acquisition of the remaining equity interest in Zhejiang Green Field Motor Co., Ltd., the setting up of funds or other investment platforms with its chosen partners to co-invest in suitable opportunities in the new energy vehicles sector and for research and development.

China Harmony Auto is principally engaged in the sales of luxury and ultra-luxury passenger vehicles in China and related customer services including financing and insurance consulting services, as well as comprehensive after-sales services.

John Moore Partner