22 January 2021
The transaction is the first convertible bonds issued by Mobvista and a strategic milestone for the Company representing a significant expansion of its financing structure and investor portfolio. Ashurst advised Mobvista on multiple perspectives of the transaction, including commercial deal structure, the debt and equity capital elements, HKEx listing rules' implications, listed companies' disclosure requirements and listing approval of the conversion shares, demonstrating the firm's ability to provide integrated services across practices in an efficient matter. Ashurst has also advised on Mobvista's global offering and HK$1.28 billion listing on the Hong Kong Stock Exchange in 2018.
PAG is a diversified private investment firm which manages US$40 billion in assets for institutional investors around the world. PAG focuses on investing in Asia and has extensive experience investing in the region’s capital markets. Upon the exercise of the conversion rights by PAG, this transaction will diversify Mobvista's shareholders portfolio.
Lead partner Frank Bi comments:
"As our long-term corporate client since its IPO project and on-going compliance matters, we have consolidated our relationship with Mobvista in corporate and capital market practices. We are excited for assisting the Company's exploration of alternative financing options and further global expansion."
For further information, please contact:
Frank Bi, Partner, Ashurst
frank.bi@ashurst.com
