After its successful offering of RMB 3 billion corporate bonds on 13 November 2015, Shanghai State-owned Assets Operation Co., Ltd. (“Shanghai Guozi”) announced to issue RMB 2 billion of exchangeable bonds, which can be exchanged for a portion of CPIC’s A shares on December 11. The offering of such exchangeable bonds is expected to be officially launched on Shanghai Stock Exchange in the near future.

Shanghai Guozi’s recent offering of corporate bonds and exchangeable bonds on Shanghai Stock Exchange have attracted huge attention from the capital market. The company is dedicated to continuous innovation to revitalize the state-owned assets and explore new path for the reform of state-owned enterprises by offering exchangeable funds.

Currently, the successful precedent case for offering of exchangeable bonds, as a type of innovative financial instruments, is very rare on the market. Despite of the market downturn, Shanghai Guozi launched its offering of RMB 2 billion exchangeable bonds, which has been highly valued and enthusiastically pursued by the capital market.

Grandall Shanghai Office has been retained as counsel to Shanghai Guozi for its offering of both the corporate bonds and exchangeable bonds, with Mr. NI Junji, Ms. YU Lei, Mr. CUI Qingwei and Mr. ZHANG Xiaolong as key lawyers offering comprehensive and professional service for the case.

Shanghai Guozi, established in October, 1999 with the official approval of Shanghai Municipal People’s Government, is a wholly state-owned limited liability company and is wholly-owned by Shanghai International Group Co., Ltd. Since its establishment, Shanghai Guozi, known for its sound management and pioneering innovation efforts, has led and participated in the reorganization and restructuring of municipal financial institutions and key state-owned enterprises, facilitated the smooth investment and withdrawal of state-owned capital, revitalized nearly RMB 10 billion of state-owned assets through various forms of business operations, and been entrusted with the disposal of nearly RMB 30 billion of misrepresented state-owned assets.