Davis Polk advised the underwriters on the initial public offering and listing on the Main Board of The Stock Exchange of Hong Kong Limited and an international offering in reliance on Rule 144A and Regulation S of Legend Holdings Corporation. The gross proceeds from the global offering amounted to approximately HK$15.17 billion (US$1.96 billion) prior to any exercise of the over-allotment option. (more…)
The Hong Kong office of the Firm represented the underwriters in the initial public offering in Hong Kong and Rule 144A/Regulation S offering by HTSC, a joint stock limited liability company established in the PRC under the Chinese corporate name 华泰证券股份有限公司 and carrying on business in Hong Kong as HTSC (“HTSC”). HTSC offered and sold an aggregate of 1,562,768,800 H shares after exercise of the over-allotment option, which raised approximately HK$38.8 billion (US$5 billion) in gross proceeds. The H shares of HTSC are listed on the Hong Kong Stock Exchange. Huatai Financial Holdings (Hong Kong) Limited, J.P. Morgan and UBS acted as joint sponsors; Huatai Financial Holdings (Hong Kong) Limited, J.P. Morgan, UBS, ICBCI, BNP Paribas and CMS acted as jointed global coordinators, joint bookrunners and joint lead managers; and Credit Suisse, Morgan Stanley, Goldman Sachs, Citigroup, Deutsche Bank, Nomura, ABCI, CCBI, GF Securities and Industrial Securities acted as joint bookrunners and joint lead managers. This is the largest IPO globally this year to date. (more…)
Leading offshore law firm, Mourant Ozannes, has announced that litigation partner Shaun Folpp will head to the firm’s Hong Kong office to establish a contentious restructuring and litigation offering to Asia based clients.
The move will build on the substantial amount of BVI and Cayman Islands litigation, restructuring and insolvency work already being undertaken by the firm in the region. Shaun, who will be practising BVI and Cayman law, will spearhead the growth of a dedicated litigation practice to support the existing corporate, finance, investment funds and international trust work. (more…)
The Hong Kong office of law firm Eversheds has advised Yunnan Water Investment Co., Limited on its HK$1,508.7 million initial public offering (IPO) on the Hong Kong Stock Exchange. The company was successfully listed on 27 May 2015.
Yunnan Water Investment Co., Ltd is one of the leading integrated service providers in the municipal wastewater treatment and water supply industries in Yunnan Province, the People’s Republic of China. It is one of the core investment and operation platforms for the Yunnan provincial government. The company’s business comprises of four main segments: wastewater treatment, water supply, construction and equipment sales and others, which comprises O&M wastewater treatment, water supply and municipal waste disposal projects. (more…)
International law firm Simmons & Simmons expands its financial markets practice in Hong Kong with the appointment of David Neuville who has joined the firm this week as a partner.
David specialises in capital markets, both equity and debt. His practice focuses on the representation of issuers and underwriters in global offerings of securities. He is recognised for his work as a US capital markets lawyer across a wide variety of capital markets transactions and has experience working on major cross border financing transactions in China, Hong Kong and throughout Asia, including in India, Indonesia, Singapore, Thailand, Malaysia, Taiwan, the Philippines, South Korea and Mongolia. (more…)
Global law firm White & Case LLP has advised International Finance Corporation, a member of the World Bank Group, and the IFC Global Infrastructure Fund, a fund managed by the IFC Asset Management Company (AMC), as co-investors on an aggregate US$150 million equity investment in China Tian Lun Gas Holdings Limited (more…)
Davis Polk advised BHP Billiton on investigations conducted by the U.S. Securities and Exchange Commission (“SEC”) and the U.S. Department of Justice (“DOJ”) into potential breaches of the Foreign Corrupt Practices Act (“FCPA”) related to previously terminated minerals exploration and development efforts as well as hospitality provided by the Company to foreign government officials at the 2008 Beijing Olympic Games. The DOJ completed its investigation without taking any action. Today, the SEC announced a settled administrative proceeding related to BHP Billiton’s hospitality program hosted by BHP Billiton in connection with its sponsorship of the 2008 Beijing Olympic Games (more…)
Akin Gump has advised Newforest Limited (“Newforest”) in its US$109 million acquisition of 63 percent of the issued capital of Greenheart Group Limited (“Greenheart”, HKSE:0094), 40 percent of Greenheart Resources Holdings Limited and certain shareholder loans from Emerald Plantation Holdings Limited (EPHL) and its group of companies. The deal closed today, May 7, 2015 (more…)
Appleby acted as BVI and Bermuda counsel to Yuexiu Transport Infrastructure Limited (Yuexiu Transport) in the establishment of a guaranteed US$1 billion medium term note programme (Programme) issued by a wholly-owned subsidiary of the company. Under the Programme, a debut €200 million 1.625% guaranteed notes due 2018 will be issued on 7 May. The Programme is listed on the Stock Exchange of Hong Kong while the notes will be listed on the Irish Stock Exchange (more…)
International law firm Dorsey & Whitney LLP announced today that Joe Sevack has joined the Firm as a Partner in the Corporate Group in the Firm’s Hong Kong office.
Mr. Sevack’s practice focuses on debt and equity capital markets, banking and finance and mergers and acquisitions. He is a widely-recognized expert in high yield bond financings and other complex, covenant-heavy debt financing structures, and has vast experience representing both issuers and borrowers as well as underwriters and lenders. Mr. Sevack has lived and practiced in Hong Kong for more than 17 years and has been involved in some of Asia’s most significant transactions during that period, including numerous international debt financings and initial public offerings. (more…)