Clifford Chance

Guide to Equity-Linked Products in Asia Pacific - Second Edition

12 February 2025

We are pleased to present the Second Edition of the Clifford Chance Guide to Equity-Linked Products in Asia-Pacific. Much has changed since the publication of the First Edition in May 2020, with current economic and market conditions pointing to the resurgence of equity-linked securities issuance from companies across the Asia-Pacific region.

As with the First Edition, the aim of the Second Edition is to provide existing and potential issuers with the technical information underlying convertible and exchangeable securities, as well as outline the nature and purpose of market practice behind this form of financing. This Second Edition also provides additional detail on the liquidity and anti-dilution strategies that are increasingly being deployed alongside equity-linked securities, together with certain U.S. federal securities laws considerations and alternatives relating to the use of equity-linked securities in an Islamic finance context (Sukuk).

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