Deacons advises on the spin-off and HK$2.2 billion Main Board IPO of Kerry Logistics Network Limited

Deacons advises the joint sponsors and underwriters on the spin-off and Main Board IPO of Kerry Logistics Network Limited, which is expected to raise up to approximately HK$2.2 billion (subject to the exercise of over-allotment option).

Kerry Logistics Network is currently a wholly-owned subsidiary of Kerry Properties Limited (HKSE Stock Code: 683). Kerry Logistics Network is principally engaged in the integrated logistics and international freight forwarding businesses, and currently has more than 400 service locations in 35 countries and territories across Asia, Australia, Europe, and North and South America. It is a leading logistics service provider in Asia, in terms of revenue and gross floor area of warehouse managed, with extensive operations across Greater China and other countries in the region, as well as the largest Hong Kong-based international third-party logistics service provider.

The joint sponsors are BOCI Asia Limited (BOCI), Citigroup Global Markets Asia Limited (Citi), HSBC Corporate Finance (Hong Kong) Limited and Morgan Stanley Asia Limited (Morgan Stanley). The joint global coordinators, joint lead managers and joint bookrunnders include BOCI, Citi, The Hongkong and Shanghai Banking Corporation Limited and Morgan Stanley. CIMB Securities Limited is also one of the joint bookrunners. DBS Asia Capital Limited and Mizuho Securities Asia Limited are also joint lead managers.

Kerry Logistics Network is expected to be listed on the Main Board of the Hong Kong Stock Exchange on 19 December 2013.

Deacons advises the joint sponsors and underwriters as to Hong Kong law, and the team is led by Rhoda Yung (Partner), Ronny Chow (Partner) and Simon Lai (Consultant). Freshfields Bruckhaus Deringer advises the underwriters as to US law. Davis Polk & Wardwell advises Kerry Logistics Network as to Hong Kong and US laws.

www.deacons.com.hk


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