Hogan Lovells has advised the underwriters, which include UBS AG Hong Kong Branch, DBS Asia Capital Limited and CIMB Securities Limited, on the Hong Kong IPO and Rule 144A placing of Nirvana Asia Ltd (“Nirvana”), the largest integrated death care service provider in Asia.
The public offering of the shares was oversubscribed by more than 50 times. The IPO price was set at HK$3.00 per share, raising US$261 million. If the over-allotment option is exercised in full the deal value would increase to approximately US$300 million. (more…)
Herbert Smith Freehills has advised Huaneng Power International Inc., one of China’s largest listed power producers, on its acquisition of equity interests in ten power plants in China for a total consideration of US$1.19 billion.
Beijing-based Huaneng Power is the listed unit of the mainland’s largest power producer, China Huaneng Group. The company is mainly engaged in developing, constructing, operating and managing large-scale power plants throughout China. (more…)
The international law firm Milbank, Tweed, Hadley & McCloy has recently advised on the successful initial public offering of SSI Group, Inc (SSI).
Milbank advised BPI Capital Corporation, Credit Suisse and HSBC, as joint global coordinators and bookrunners, on the approximately US$144 million initial reopening of SSI, the Philippines’ leading specialty retailer. (more…)
Mayer Brown JSM represented Principal Financial Group (Principal) on the acquisition of AXA’s Mandatory Provident Fund (MPF) and Occupational Retirement Schemes Ordinance (ORSO) retirement schemes businesses in Hong Kong for approximate HK$2.6 billion. In connection with the transaction, Principal and AXA will also enter into a 15-year exclusive distribution agreement allowing Principal to offer MPF and ORSO retirement schemes through AXA’s proprietary networks in the city. (more…)
Paul Hastings, a leading global law firm, announced today that the firm advised Hanjin International Corporation (“Hanjin”) on its issuance of the US$300 million floating rate notes (“notes”). The Reg S-registered notes were guaranteed by state-owned Export-Import Bank of Korea. BNP Paribas and HSBC were the joint bookrunners of the offering. (more…)
Davis Polk advised The Hongkong and Shanghai Banking Corporation Limited, UBS AG, Hong Kong Branch, CCB International Capital Limited, ABCI Capital Limited, Industrial and Commercial Bank of China (Asia) Limited and J.P. Morgan Securities plc as joint bookrunners and joint lead managers in connection with the Regulation S only offering by King Power Capital Ltd. (“Issuer”) of its US$300 million 3.875% guaranteed notes due 2019 and US$700 million 5.625% guaranteed notes due 2024 (“Notes”). The Notes are unconditionally and irrevocably guaranteed by China Travel Service (Holdings) Hong Kong Limited (香港中旅(集團)有限公司)(“Guarantor”). The Issuer is a wholly owned subsidiary of the Guarantor. (more…)
Addleshaw Goddard’s Hong Kong equity capital markets team has recently advised on the successful listing by Nga Chun Holdings Company Limited (Nga Chun) on the Main Board of the Hong Kong Stock Exchange. The team advised the sponsor, Ample Capital Limited and the underwriters, Ample Orient Capital Limited and Convoy Investment Services Limited. (more…)
Herbert Smith Freehills has advised Energy Development Corporation (EDC) on its US$315 million financing of the 150 MW Burgos Wind Farm Project (Burgos).
Burgos is the largest wind farm developed in the Philippines to date and the financing represents not only the first international project financing of a wind farm project in the Philippines to reach financial close but also the first time that the Feed in Tariff (FiT) recently introduced by the Philippines Government has been banked. (more…)
The Firm represented Goldman Sachs in the initial public offering and Rule 144A/Regulation S offering by Hua Hong Semiconductor Limited. Hua Hong sold an aggregate of 228,696,000 ordinary shares in the offering (before greenshoe) and raised gross proceeds of approximately HK$2,572.8 million (US$332.0 million). The ordinary shares of Hua Hong are listed on the Hong Kong Stock Exchange. Goldman Sachs acted as sole sponsor, sole global coordinator and sole bookrunner. (more…)