Slaughter and May is advising financial services group CLSA on its share placing agreement with Paul Y Engineering Group (PYE) to raise gross proceeds of up to $617 million.

The agreement looks to generate proceeds of at least $411 million from a new share placement, and up to $308 worth of convertible bonds, together with an option to place an additional $206 million worth of new shares and convertible bonds.

Hong Kong-based partner Benita Yu led the Slaughter and May team on the transaction.

The proceeds from the share placement and the separate placing of convertible bonds are expected to fund PYE’s acquisition of private company Falloncroft Investment for $257 million.

Kanishk Verghese is North Asia journalist at ALB. Follow us on Twitter: @ALB_Magazine.

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