The Tokyo office of the Firm recently represented Otsuka Holdings Co., Ltd. in connection with its initial public offering on the Tokyo Stock Exchange and global offering to institutional investors pursuant to Rule 144A and Regulation S. The $2.4 billion IPO was the largest equity deal in the world for a pharmaceutical company, exceeding the $1.7 billion IPO of Merck KGaA in October 1995.
Otsuka Holdings is a globally operating diversified healthcare group engaged primarily in the research, development, manufacture and sales of prescription drugs and functional foods and beverages as well as the manufacture and sales of other consumer products.
The international offering was led by Nomura International plc, Morgan Stanley & Co. International plc and UBS Limited.
The Simpson Thacher team for the transaction included Taki Saito, Tadashi Okamoto and paralegal Ariel Jeong (Corporate) in Tokyo and Robert Holo, Jonathan Cantor and Jennifer Klein (Tax) in New York.
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