Paul Hastings, a leading global law firm, announced today that the firm advised JPMorgan Chase Bank, N.A. as the depositary bank on Fast Retailing Co., Ltd.’s (“Fast Retailing”) secondary listing of Hong Kong depositary receipts (“HDRs”) on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”) by way of introduction. Morgan Stanley Asia Limited acted as the sole sponsor.
Fast Retailing is the largest Japanese clothing retailer in Asia Pacific that designs, manufactures and sells clothing under seven main brands: UNIQLO, Comptoir des Cotonniers, GU, Helmut Lang, J Brand, Princesse tam.tam and Theory. Fast Retailing’s stock will continue to have its primary listing on the first section of the Tokyo Stock Exchange, with the addition of the secondary listing of HDRs in Hong Kong.
Paul Hastings has advised J.P. Morgan on all HDR listings to date, notably Vale S.A. (first-ever HDR listing), SBI Holdings (first HDR listing and global offering by a Japanese company) and Coach Inc. (first U.S. incorporated company to list in Hong Kong).
The Paul Hastings team was led by capital markets partners Catherine Tsang, Scott Saks and Hajime Kanagawa, with support from of counsel Keith Pisani and associate Samson Suen.
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