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Clifford Chance advises iDreamSky Technology on its concurrent repurchase of existing convertible bonds, issuance of new convertible bonds, and placement of new shares

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3 August 2023

Clifford Chance advises iDreamSky Technology on its concurrent repurchase of existing convertible bonds, issuance of new convertible bonds, and placement of new shares

Leading international law firm Clifford Chance has advised digital entertainment company iDreamSky Technology Holdings Ltd (iDreamSky) on its concurrent repurchase of HK$775 million 3.125% guaranteed convertible bonds due 2025, issuance of HK$386 million 5% convertible bonds due 2028, and placing of 164,177,200 new shares.

Lead partner David Tsai said, “We are delighted to advise iDreamSky on these complex debt and equity capital markets transactions. Getting all three concurrent deals across the line required our cross-practice team to seamlessly advise our client on debt and equity securities, listing rules and other relevant regulations.”

Clifford Chance advised on all aspects of the triplicate deal for iDreamSky:

  • Advising on the convertible bonds repurchase and issuance aspects: Hong Kong counsel Nicholas Mai, associate Michael Cheng and trainee Francis Tang
  • Advising on the new shares placement aspects: Beijing counsel Airun Wang and legal analyst Ji Tang

Shenzhen-headquartered iDreamSky is a leading digital entertainment company in China. It designs, develops, and distributes games for mobile, consoles, PC, and tablets, as well as offering other digital entertainment services, such as e-sports, comics and videos.

Clifford Chance previously advised iDreamSky on its IPO and listing on the Hong Kong Stock Exchange in 2018.

高伟绅就创梦天地同时回购现有可转换债券、发行新可转换债券和配售新股提供法律服务

国际领先律师事务所高伟绅就数字娱乐公司创梦天地同时回购于 2025 年到期的 7.75 亿港元3.125%有担保可转换债券、发行于 2028 年到期的3.86亿港元5%可转换债券以及配售164,177,200股新股提供法律服务。

负责本交易的牵头合伙人蔡重阳表示:我们很高兴助力创梦天地完成这项复杂的债权和股权资本市场交易。要同时完成这三项交易,需要我们的跨业务及跨地区团队就债权和股权证券、上市规则以及其他相关法规为客户提供无缝衔接的法律服务。

高伟绅律师事务所就创梦天地此次三合一交易的所有方面为公司提供了法律服务:

  • 可转换债券回购和发行:麦传煜、成林和唐毅仁(香港办公室)
  • 新股配售:王艾润和唐冀(北京办公室)

总部位于深圳的创梦天地是中国领先的数字娱乐公司。该公司设计、开发和发行手机、游戏机、个人电脑和平板电脑游戏,并提供电子竞技、漫画和视频等其他数字娱乐服务。

高伟绅此前曾就创梦天地于2018年在香港交易所的首次公开募股和上市提供法律服务。