Sidley and DLA Piper secure roles on Asia IPO
Sidley Austin and DLA Piper have played key roles in one of the first initial public offerings (IPOs) of the year on the Hong Kong Stock Exchange. Sidley Austin served as issuer's counsel to Chinese oil products trader Strong Petrochemical Holdings, whose 12 January IPO raised about HK$250m (£21m).The firm's team was led by Hong Kong partner Constance Choy, alongside associates Eugene Lai and Iris Yuen. China's King & Wood represented Strong on issues involving mainland Chinese law. DLA Piper represented the sponsor and underwriter, China Everbright Capital. The DLA Piper team was led by partner Esther Leung.
January 20, 2009 at 07:03 AM
2 minute read
Sidley Austin and DLA Piper have played key roles in one of the first initial public offerings (IPOs) of the year on the Hong Kong Stock Exchange.
Sidley Austin served as issuer's counsel to Chinese oil products trader Strong Petrochemical Holdings, whose 12 January IPO raised about HK$250m (£21m).
The firm's team was led by Hong Kong partner Constance Choy, alongside associates Eugene Lai and Iris Yuen. China's King & Wood represented Strong on issues involving mainland Chinese law. DLA Piper represented the sponsor and underwriter, China Everbright Capital. The DLA Piper team was led by partner Esther Leung.
DLA Piper also acted as issuer's counsel on the 13 January IPO of China Singyes Solar Technologies Holdings, which raised HK$63m (£5.3m). DLA Piper's team was led by Beijing office head Liu Wei and Hong Kong partner Jeffrey Mak, with Esther Leung also providing support.
IPO activity has been in deep freeze in Hong Kong since October, when the fallout from the collapse of Lehman Brothers and uncertainty about the futures of other major financial institutions brought global capital markets to a standstill.
However, many capital markets lawyers are optimistic that Hong Kong will come back to life more quickly than New York or London on the strength of continuing growth in the Chinese corporate sector.
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