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…)
Appleby acted as Cayman counsel for Hin Sang Group (International) Holdings Co. Ltd. (Hin Sang) in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 16 October 2014, with gross proceeds of approximately HK$240 million. This offering is approximately 860 times oversubscribed, ranking the 5th among all oversubscription listings in Hong Kong in 2014, as of today. (more…)
The Hong Kong office of global law firm Eversheds has advised China Merchants Securities (Hong Kong) in connection with the HK$370 million initial public offering (IPO) of Jiashili Group Limited. The company was successfully listed on 25 September 2014.
Jiashili Group Limited is one of the largest biscuit manufacturers in the PRC. The company enjoys a leading role in the Chinese biscuit market and it was named Top 100 Enterprise in China Bakery and Confectionary Industry.
The company raised HK$370 million by issuing 100 million shares, which represent 25% of the company’s total issued share capital immediately after the completion of the IPO, at HK$3.7 each. The Hong Kong public offering has been over-subscribed by approximately 28 times. (more…)
Allen & Overy has advised HSBC and Standard Chartered Bank as joint global coordinators and bookrunners along with several other bookrunners and co-managers on the USD1 billion sukuk offering by The Government of the Hong Kong Special Administrative Region of the People’s Republic of China, the first Islamic bond issuance by the HKSAR Government. The AAA-rated 5-year trust certificates were offered in a combined Rule 144A/Regulation S transaction to institutional investors internationally. (more…)
Davis Polk advised Morgan Stanley & Co. International plc and Sun Hung Kai Investment Services Limited in their capacity as placing agents for the top-up placement of 160,000,000 shares in Sun Hung Kai & Co. Limited (SHK) for a total consideration of approximately US$129 million. (more…)
Paul Hastings, a leading global law firm, announced today that the firm advised China Rongsheng Heavy Industries Group Holdings Limited (“China Rongsheng”) in relation to the acquisition of a 60% equity interest in Central Point Worldwide Inc. (“Central Point”) by its indirectly wholly-owned subsidiary, Ocean Sino Holdings Limited.
The consideration for the acquisition is HK$2.184 billion (US$281 million), which is satisfied by the allotment and issuance of 1,400,000,000 shares by China Rongsheng. (more…)
The international law firm Milbank, Tweed, Hadley & McCloy has recently advised on the successful reopening of notes by the Vista Land group. Milbank advised DBS Bank Ltd. (DBS), as international underwriter, on the US$125 million reopening of 7.45% Guaranteed Notes due 2019 (the Notes) by VLL International, Inc., a subsidiary of Vista Land & Lifescapes, Inc. (Vista Land), one of the largest residential property developers in the Philippines. The Notes were unconditionally guaranteed by Vista Land and other subsidiaries of the Vista Land group. (more…)
Global legal practice Norton Rose Fulbright has advised COFCO Land Holdings Limited on its acquisitions of the minority interests in Jetway Developments and Yalong Development (HK) Company.
The aggregate consideration was approximately HK$2 billion which was satisfied by the issue and allotment of shares in COFCO Land to the respective sellers. (more…)
Milbank, Tweed, Hadley & McCloy LLP advised PT Adaro Indonesia on its US$1,000,000 loan facility from a consortium of lenders including ANZ, BTMU, CIMB, Citi, CTBC, DBS, HSBC, ING Bank, Maybank, Mizuho Bank, OCBC, SMBC, Standard Chartered Bank and UOB. The loan will be used to refinance existing indebtedness of the company. (more…)
Goodwin attorneys recently advised an investor consortium in connection with Rakuten Inc.’s announced $1 billion cash acquisition of retail website Ebates. The investor group, which together owns a substantial majority of Ebates, includes August Capital, Canaan Partners and Foundation Capital. The transaction is expected to close in October 2014. (more…)
China Huarong Asset Management Co, Ltd., one of the country’s four largest asset-management companies, recently announced that it has entered into cooperation agreements with eight strategic investors. It is reported that Warburg Pincus, Goldman Sachs, China Life, CITIC Securities, CICC, COFCO, Fosun and Khazanah will invest a total of approximately US$2.4 billion in China Huarong to secure a 21% equity interest. (more…)
Paul Hastings, a leading global law firm, announced today that the firm represented Morgan Stanley Asia Limited, CITIC Securities Corporate Finance (HK) Limited, ICBC International Securities Limited, CCB International Capital Limited, DBS Asia Capital Limited, First Shanghai Securities Limited, GF Securities (Hong Kong) Brokerage Limited and Celestial Securities Limited as counsel to the underwriters in China VAST Industrial Urban Development Company Limited’s (“China VAST”) US$130 million Hong Kong IPO and Rule 144A global offering on the Main Board of the Hong Kong Stock Exchange. (more…)