International law firm Freshfields Bruckhaus Deringer has advised Sateri Holdings Limited, a leading global specialty cellulose producer with operations in Brazil and China, on its US$402 million (HKD 3,116 million) initial public offering (IPO) and listing on the Hong Kong Stock Exchange. The offer price has been determined at HKD 6.60 a share.
Sateri will use the proceeds from the IPO to further expand its operations in both Brazil and China.
Commenting on the deal, Grace Huang said, “We are delighted to act for Sateri on this deal which marks the first primary listing in Hong Kong of an organisation with significant Brazil operations.”
London-based corporate partner and head of Freshfields’ corporate Brazil group, David Sonter, commented, “This first listing in Hong Kong of a business with significant operations in Brazil underlines our continuing focus to support growing Brazilian companies as they look to access international capital markets and expand their businesses beyond South America.”
The Freshfields team was led by China managing partner Teresa Ko, Hong Kong corporate partner Grace Huang and US corporate partner Calvin Lai. The team was supported by Hong Kong corporate associates Andrew Scott and Alice Gu and US corporate associates James Hyre and Zachary Levine.
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