Paul Hastings, a leading global law firm, announced today that the firm represented CITIC Securities Corporate Finance (HK) Limited as the sole sponsor and CLSA Limited as the sole global coordinator, bookrunner and lead manager in Poly Cultural Group Corporation Limited’s (“Poly Cultural Group”) US$331 million global offering and listing of its H-shares on the Main Board of the Hong Kong Stock Exchange. (more…)
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. (more…)
The transaction involves four acquisitions: a takeover bid for RCT, acquisitions of the responsible entity and operating entity of RCT and the acquisition of Casino Canberra. RCT is the owner of the Cairns Reef Casino and hotel and Casino Canberra is the owner and operator of the Canberra Casino.
Aquis has entered into a Takeover Bid Implementation Agreement with the responsible entity of RCT. Aquis’ takeover bid will be an off-market cash bid to acquire all the ordinary units in RCT for $4.354 per unit, for a total value of approximately $217 million. The RCT Board have unanimously recommended unitholders to vote in favour of the takeover bid, in the absence of a superior proposal. (more…)
Paul Hastings, a leading global law firm, announced today that the firm advised Bank of Philippine Islands (“BPI”), a member of the Ayala Group and the third-largest lender by assets in the Philippines, on its US$555 million (P25 billion) stock rights offer. Goldman Sachs and J.P. Morgan acted as joint international bookrunners and underwriters, and Bank of Philippine Islands Capital Corporation acted as the sole global coordinator and lead manager, sole domestic manager and domestic bookrunner and underwriter. (more…)
Earlier this month, HK Electric Investments and HKEIL announced the launch Hong Kong Public Offering of 4,426,900,000 share stapled units, approximately 50.1% of the total number in issue following the completion of the reorganisation and the Global Offering. The Public Offering, the biggest in Hong Kong since 2010, closed on 21 January. (more…)
Paul Hastings, a leading global law firm, announced today that the firm represented Yuzhou Properties Company Limited (“Yuzhou Properties”), a leading property developer in China’s Fujian province listed on the Main Board of the Hong Kong Stock Exchange, in its issuance of US$300 million 8.625% senior notes (“Notes”) due 2019. BOC International, Citigroup, Deutsche Bank and HSBC were the joint lead managers and joint bookrunners. (more…)
The Firm represented the underwriters of the initial public offering in Hong Kong and Rule 144A/Regulation S offering by Honworld Group Limited (Honworld). Honworld offered an aggregate of 125,000,000 ordinary shares, which raised approximately HK$894 million (US$115 million) in gross proceeds for Honworld. Honworld is the largest manufacturer of cooking wine in China and also offers other condiment products, including soy sauce and vinegar. The ordinary shares of Honworld are listed on the Hong Kong Stock Exchange. The underwriters of this offering included Macquarie Capital Securities Limited and First Shanghai Securities Limited. (more…)