Dentons advises Guangxi Lvcheng Water Resources Co., Ltd. on private placement of shares

On July 25, 2019, Guangxi Lvcheng Water Resources Co., Ltd. (Lvcheng Water) announced the issuance results of its private placement of shares. The company issued a total of 147,162,179 shares and raised RMB 812.3353 million. The proceeds will mainly be used for the construction of a water plant in Chen County, Nanning and the Jiangnan Wastewater Treatment Plant in Nanning.

A Dentons team in Nanning provided full scope legal assistance on this matter. They conducted legal due diligence, demonstrated the issuance plan, issued legal opinions, responded to feedback from the China Securities Regulatory Commission, and observed the issuance process. With rich experience in the field of capital markets, professional legal services and diligent work, the team was highly trusted and recognized by the client and other participating agencies.

As a state-controlled listed company, Lvcheng Water is mainly engaged in the tap water production and supply, wastewater treatment, as well as the investment and construction, operation management and maintenance of water supply and sewage treatment facilities (excluding drainage systems) within its concession area. Since 2017 when we were retained by the client to act as the standing legal counsel, we have also provided professional and efficient legal services for Lvcheng Water on matters related to investment and M&A, bond issuance and financing.