Skadden advised MINISO Group Holding Limited, a global value retailer offering a variety of trendy lifestyle products featuring IP design, on its offering of equity linked securities due 2032 in the aggregate principal amount of US$550 million.
This transaction marks the first convertible bond distributed solely under Regulation S by a company with a dual primary listing in the U.S. and Hong Kong. It is also the first convertible bond with a concurrent call spread transaction for a company with a dual primary listing in the U.S. and Hong Kong.
The Skadden team was led by China Practice co-heads Haiping Li and Paloma Wang, Global Head of Transactions, Asia, Jonathan Stone, and Partner Shu Du, with Counsels Kenneth Chase and Martina To, Associates Shimeng Zhang, Charles Shi, Tracy Lee, and Xinjia Wang (Hong Kong), corporate. The team also includes Partner Yossi Vebman (New York) and Counsel Yan Shurin (New York), derivatives; Partners Gregg Noel (Palo Alto) and Adrian Deitz (Sydney), capital markets; and Partner Sean Shimamoto (Palo Alto), tax.
