CC and A&O take lead roles on £1.9bn Singapore IPO
Clifford Chance (CC), Allen & Overy (A&O) and Allen & Gledhill have lined up on Singapore's largest initial public offering (IPO) in 17 years, worth S$3.9bn (£1.9bn). Logistics company Global Logistic Properties (GLP) launched on the Singapore stock exchange earlier this month, with the flotation marking the largest IPO in the region since telecommunications company SingTel went public in 1993 for a reported S$4bn (£2bn).
October 26, 2010 at 01:16 AM
2 minute read
Clifford Chance (CC), Allen & Overy (A&O) and Allen & Gledhill have lined up on Singapore's largest initial public offering (IPO) in 17 years, worth S$3.9bn (£1.9bn).
Logistics company Global Logistic Properties (GLP) launched on the Singapore stock exchange earlier this month, with the flotation marking the largest IPO in the region since telecommunications company SingTel went public in 1993 for a reported S$4bn (£2bn).
CC advised GLP, fielding a team including Hong Kong capital markets partners Amy Lo, consultant Julian Perlmutter and New York partner Jonathan Zonis.
A&O acted as counsel for a syndicate of underwriters including Citigroup and JP Morgan as joint global co-ordinators. Singapore-based capital markets partner Yin Mei Lock led for the law firm alongside investment funds and structures partner Kenny Kwan and capital markets partner Hooman Sabeti-Rahmati.
Lock said: "There is a significant pipeline of IPOs in Asia, particularly in Singapore, China (including Hong Kong), Indonesia, Malaysia and India given Asia's strong recovery from the financial crisis.
"The real estate and logistics sector in Asia is also doing well and provides a good story so it is not surprising that GLP decided to go public now."
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