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How to Exit the US Public Markets and Options for US-Listed Chinese Companies

Speaker(s): Christina M. Thomas, Jason T. Elder
Recorded on: Oct. 13, 2021
PLI Program #: 338131

Christina Thomas is a partner in Mayer Brown’s Washington DC and New York offices and a member of the Capital Markets practice. Christina represents US and foreign companies, investment banks and sponsors on securities offerings, mergers and acquisitions, US Securities and Exchange Commission (SEC) disclosure requirements, shareholder proposals, and ESG matters.

Christina is a former senior advisor at the SEC, serving most recently as Counsel to SEC Commissioner Elad L. Roisman. In that role, she provided legal counsel to the Commissioner on his consideration of policy, regulatory, and enforcement matters.

She advised on SEC proposed and final rule amendments, interpretations, and guidance relating to, among other things, public company disclosure, the proxy voting process, and capital formation. Christina advised on major rulemakings, including modernization of Regulation S-K disclosure requirements, the update of statistical disclosures for bank and savings and loan registrants, amendments to financial disclosure requirements for acquired and disposed businesses, exemptions from the proxy rules for proxy voting advice, amendments to the shareholder proposal rule, extension of the “test-the-waters” accommodation to all issuers, amendments to the “accredited investor” definition, and harmonization of the exempt offering framework.

She also served as lead advisor on international securities law and policy. Prior to serving as counsel to the Commissioner, Christina was detailed to the US Department of the Treasury to advise on international securities law matters. She received the Secretary’s Honor Award in recognition of her contributions. Christina began her career at the SEC in its Division of Corporation Finance in the Office of Healthcare and Insurance (now Life Sciences). She also served as a reviewer on the SEC’s Shareholder Proposal Task Force and in the Office of Mergers and Acquisitions.

Jason T. Elder is a partner and a Registered Foreign Consultant (New York) of Mayer Brown LLP. He has extensive corporate finance experience with a particular focus on global offerings of equity securities and investment grade, high-yield, hybrid and structured debt products. Jason also has experience with restructurings, private equity financing, and cross-border mergers and acquisitions gained from transactions in the US and Asia.

A trusted advisor to leading financial institutions and issuers globally, Jason has over 20 years’ experience, primarily in Asia-Pacific, and with a focus on emerging and frontier market transactions. He has significant experience advising US-based corporations with their Asian operations, as well as Asia-based corporations with regional and global initiatives.

Jason has received many accolades, but most recently, Chambers Global named Jason a Foreign Expert (Based in China) for USA, Capital Markets: High-Yield Products in 2021, and also a Foreign Expert for Mongolia – China in the Capital Markets (International Firms) category for another consecutive year since 2018. Since 2013, Jason has also been named Foreign Expert (Based in China) – Mongolia for General Business Law by Chambers Global every year since 2013, and he has been ranked by Chambers Asia Pacific as a Band 1 Foreign Expert (Based in China) – Mongolia for General Business Law since 2014.

Jason serves on Mayer Brown’s global Management Committee. He has previously served two terms on the firm’s global Partnership Board, and led the firm’s Corporate & Securities practice from 2019 through 2021, following his service as the Corporate & Securities office practice leader for Hong Kong from 2014 to 2015, and firm practice leader for the Corporate & Securities practice from 2015 through 2019.

He earned a Juris Doctorate degree from University of Oregon School of Law, Order of the Coif, where also served as Associate Editor of the Oregon Law Review. Prior to this, Jason earned a Bachelor’s degree in Philosophy from Northwestern University, with Department Honors. He is admitted to practice law in New York.