On April 23, an asset-backed securities program was launched with Hengtai Securities acting as manager and Dacheng as legal advisor. Specifically, the ABSs are backed by the water charges collection right of Jilin Water Group Co., Ltd.. It is not only the first water charges collection right-backed ABS program in Northeast China, but also the largest one so far. When the securities were available for subscription, they were oversubscribed by 2.2 times. Eventually they would be listed on Shanghai Stock Exchange.
The Dacheng team included finance senior partners Liu Haiping and Liu Fei, partner Dong Wan, associates Guo Wenmin, Han Tao and paralegal Chen Xiaorong. The team advised the manager on a number of innovative procedures.
Beijing Dacheng Law Offices, LLP ("大成") is an independent law firm, and not a member or affiliate of Dentons. 大成 is a partnership law firm organized under the laws of the People’s Republic of China, and is Dentons' Preferred Law Firm in China, with offices in more than 50 locations throughout China. Dentons Group (a Swiss Verein) ("Dentons") is a separate international law firm with members and affiliates in more than 160 locations around the world, including Hong Kong SAR, China. For more information, please see dacheng.com/legal-notices or dentons.com/legal-notices.
