CC and Latham lead as 7-eleven Malaysia eyes month-end IPO
Clifford Chance (CC) and Latham & Watkins have taken lead roles on the IPO of 7-Eleven Malaysia Holdings, valued at $226m and expected to be the largest new listing in the country so far this year.
May 13, 2014 at 12:02 AM
2 minute read
Clifford Chance (CC) and Latham & Watkins have taken lead roles on the IPO of 7-Eleven Malaysia Holdings, valued at $226m and expected to be the largest new listing in the country so far this year.
The convenience store operator, controlled by Malaysian billionaire Vincent Tan and boasting approximately 1,500 shops, plans to list on Bursa Malaysia at the end of this month, with the shares representing 43% of the company's total equity.
CC is advising the issuer on US and UK law aspects, with a team being led by corporate partners Raymond Tong and Johannes Juette in Singapore. Wong Beh & Toh is working alongside the magic circle firm to provide Malaysian counsel.
Latham is meanwhile representing the banks, which include Maybank, UBS, CLSA, CIMB and Kenanga.
Corporate finance partner in Singapore Sharon Lau is heading up at Latham, while Zul Rafique & Partners are advising on Malaysian law.
According to media reports, 7-eleven's IPO was originally planned for December but was delayed until later this year.
In its prospectus the convenience store operator says it plans to use the proceeds to open 200 new 7-eleven stores in 2014, for the refurbishment of stores, the construction of new warehouse and the upgrading of its IT systems.
Related: CC and Latham lead on KrisEnergy's £139m Singapore IPO
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