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Clifford Chance advises AIA Group on its US$2.638 billion automatic share buy-back programme

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2 February 2024

Clifford Chance advises AIA Group on its US$2.638 billion automatic share buy-back programme

Global law firm Clifford Chance has advised AIA Group Limited (AIA) (1299.HK) on its US$2.638 billion (approximately HK$20.6 billion) automatic guaranteed discounted volume weighted average price (VWAP) share buy-back programme, which is under its US$10 billion ongoing on-market share buy-back programme announced in March 2022. This is the first guaranteed discounted VWAP share buy-back programme established by a Hong Kong listed company under new guidance published by the Hong Kong Stock Exchange in October 2023.

Partners Virginia Lee and Francis Edwards co-led the Clifford Chance team advising on the transaction, with support from counsel Lin Lu and associates Elaine Lau, Joanne Lau and Karen Jiang.

Virginia and Francis said, “We are proud to have been entrusted by AIA on its most recent share buy-back, which will optimise the buy-back programme administration and maximise the opportunities for AIA to implement its existing US$10 billion programme to the fullest extent. Bringing together our expertise in corporate and global financial markets, this deal demonstrates our ability to advise clients on their most significant capital markets transactions.”

AIA is the largest independent publicly listed pan-Asian life insurance group with presence in 18 markets. AIA offers a range of products and services including life insurance, accident and health insurance and savings plans.
 

高伟绅为友邦保险26.38亿美元自动股份回购计划提供法律服务

国际律师事务所高伟绅为友邦保险控股有限公司("友邦保险")(股票代码1299.HK)26.38亿美元(约206亿港币)自动保证折扣成交量加权平均价格 (VWAP) 的股份回购计划提供法律服务,该计划是友邦保险于2022年3月公告并持续进行中的100亿美元股份回购计划的一部分。该项目是首个香港上市公司根据香港证券交易所于2023年10月刊发的有关代表上市发行人进行自动股份购回计划的新指引而设立的保证折扣VWAP股份回购计划。

合伙人李婉雯律师 (Virginia Lee) 和合伙人Francis Edwards律师共同牵头领导本项目法律团队,鹿麟 (Lin Lu) 、刘彦铃 (Elaine Lau) 、刘君颐 (Joanne Lau) 和姜文钰 (Karen Jiang) 提供支持。

李婉雯律师和Francis Edwards律师表示:我们非常荣幸受友邦保险委托,就其近期股份回购提供法律服务。本次股份回购旨在优化其现有股份回购计划的管理,并使友邦保险在最大程度地大致完成其现有的100亿美元股份回购计划。本交易结合本所在公司事务以及全球金融市场方面的专业知识,彰显了我们协助客户处理其最重要的资本市场交易的强劲实力。

友邦保险是最大的泛亚地区独立上市人寿保险集团,覆盖18个市场,提供一系列的产品及服务,包括人寿保险、意外及医疗保险和储蓄计划。