Simpson Thacher recently represented Credit Suisse (Hong Kong) Limited and Morgan Stanley Asia Limited as joint placement agents in connection with the private placement of convertible preference shares by Alibaba Group Holding Limited, which raised approximately $1.8 billion. The placement of convertible preference shares was part of a financing package that is the largest private financing for a private sector Chinese company, and the largest ever non-LBO private financing for a technology company globally.
Alibaba Group is China’s largest e-commerce company. The new preference shares were placed with global institutional investors from Asia, Europe and the United States.
The Simpson Thacher team for the offering included, among others, Leiming Chen, Roxane Reardon, Daniel Fertig, Frank Kwok, Asher Hsu, David Lee and Tianyi Chen (Capital Markets), and Marcy Geller and Jonathan Talansky (Tax) and Sinead O’Shea (Credit).
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