China/Hong Kong
Simpson Thacher & Bartlett will advise Alibaba Group Holdings Ltd. on an expected initial public offering in New York that could raise almost $13 billion, according to a company source familiar with the matter. Hong Kong partner Leiming Chen, Palo Alto partner Bill Hinmin, and Beijing partner Daniel Fertig are likely to front the Simpson Thacher team. The company source said Freshfields Bruckhaus & Deringer, where Alibaba general counsel Timothy Steinert was formerly a partner, may also play a role in the IPO but gave no further details. Underwriters are yet to be selected for the listing. Alibaba had been negotiating a potential listing with the Hong Kong Stock Exchange but abandoned that plan last week after the latter refused to except the Chinese e-commerce company from its ban on dual-share structures. [Read full story]
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