North Star Company Limited, the Chinese industrial conglomerate, has announced a financing tour by way of public tender on the China Beijing Equity Exchange.
North Star Company Limited, the Chinese industrial conglomerate, has announced a financing tour by way of public tender on the China Beijing Equity Exchange.
The Transaction team of Leaf has assisted GL events in this capital injection opened to strategic investors including Beijing Capital Tourism Group (北 京 首 都 旅 遊 集 團 有 限 責 任 公 司), Beijing Shougang Construction Investment (北 京 首 鋼 建 設 投 資 有 限 公 司) and Jingdong Technology.
Upon completion, the registered capital of North Star Convention Group will raise from RMB120m (USD$18.5m) to RMB200m and dilute the parent company’s shareholding from 100% to 60%. Each of the new respective strategic investors will hold a 10% shareholding.
Jor Zhou, CEO of GL events China, confirms that “this financing will further enhance the capital strength of the convention and exhibition segment of the Company, improve the market-oriented operation standard and industry chain, accelerate the transformation and upgrade of the traditional convention and exhibition business”.
North Star Convention Group currently manages the largest number of professional convention and exhibition venues in China.
About GL events
As an integrated Group operating in all event professions, GL events works in three major segments: event organization, event venue management and services for fairs, and events. GL events assists companies, institutions, and event organizers at every stage of the process from the definition of their event strategies to final implementation in the field. Recently, GL Events has announced 2018 consolidated revenues topping €1bn.
About North Star Convention Group
North Star Convention Group, being the professional convention and exhibition enterprise that manages the largest number of professional convention and exhibition venues, is the largest in terms of area and is capable of undertaking the finest convention and exhibition in China. At present, it operates and manages 20 convention and exhibition venues including China National Convention Center and Beijing International Convention Center with a total construction area of approximately 4,200,000 square meters. It has successively served for and guaranteed the holding of a series of major activities and events such as the 2014 APEC Summit, the 2016 G20 Hangzhou Summit, two sessions of the “Belt and Road” Forum for International Cooperation, the 2017 BRICS Xiamen Summit, the 2018 Qingdao Summit of Shanghai Cooperation Organization, the 2018 Forum on China-Africa Cooperation, the 2019 International Horticultural Exhibition Beijing China, the Conference on Dialogue of Asian Civilizations and China International Fair for Trade in Services (“CIFTIS”).
About Leaf
Leaf is a corporate law firm specialized in operations in China. Its team composed of Chinese and international corporate lawyers advises mid-cap enterprises and international corporations for their M&A operations in China, their joint-ventures with public and private Chinese players, to expand distribution networks across Asia or to structure investment in Asia-based start-ups. Leaf law firm has offices in France and China.
For further information:
Jean-Philippe Engel: jp.engel@leaf-legal.com
Bruno Grangier: b.grangier@leaf-legal.com
