O’Melveny represented iSoftStone Holdings Limited (NYSE:ISS) and the selling shareholders, in its US$162 million initial public offering of American Depositary Shares (ADSs) and listing on the New York Stock Exchange. iSoftStone and the selling shareholders sold 12,458,334 ADSs at US$13 per ADS, the high end of the range, including 1,625,000 ADSs sold when the underwriters exercised their over-allotment option in full. UBS AG, JP Morgan Securities LLC, and Morgan Stanley & Co. International plc acted as joint bookrunners for iSoftStone’s IPO.
Founded in 2001, iSoftStone is a leading China-based IT services provider serving both Greater China and global clients. iSoftStone provides an integrated suite of IT services and solutions including Consulting & Solutions, IT Services, and business process outsourcing services. iSoftStone was certified CMMI Level 5 in 2006, and is certified ISO9001 and ISO27001, and focuses on key client industry verticals including technology, communications, banking, financial services and insurance and energy, transportation, and public sector
The O’Melveny team was led by Shanghai partners Kurt Berney and Portia Ku, and included Shanghai counsel Jim Hildebrandt and Beijing associates Ning Zhang and Yingqiong (Joan) Tong.
“We are delighted to take part in this transaction,” said Berney, “and we continue to see a strong pipeline of capital markets work in our China offices. It is a very exciting time for us.”
During the process of the IPO, a separate O’Melveny team consisting of Berney, counsel Victor Chen (HK), and associate Nima Amini (HK) also represented iSoftStone in its acquisition of Ascend Technologies Inc., through which iSoftStone further expanded its geographic presence and service capabilities to better serve global banking and financial services (including insurance) clients, and added delivery centers in Boston and New York City.
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