The Hong Kong Stock ExchangeAsia Deal Digest: March 14, 2019
• Skadden, Davis Polk on Sea Ltd.'s $1.5 billion follow-on offering. • Latham, Freshfields advising Warburg-backed logistics real estate developer's $1.5 billion IPO in Hong Kong. • Clifford Chance, Linklaters on Chinese property developer's $800 million bond sale.
March 13, 2019 at 02:22 PM
4 minute read
Asia Deal Digest, published periodically, is a compilation of some of the largest deals carried out in Asia.
|Southeast Asia
• Skadden, Arps, Slate, Meagher & Flom New York partner Dwight Yoo represented Sea Ltd, a Singapore-based online gaming and e-commerce company backed by Chinese technology giant Tencent Holdings Ltd, on a $1.5 billion follow-on offering. Davis Polk & Wardwell Hong Kong partner James Lin advised Goldman Sachs and Morgan Stanley as the underwriters. Allen & Overy advised the banks on Thai and Vietnamese law. Hiswara Bunjamin & Tandjung advised the banks on Indonesian law. Tsar & Tsai Law Firm advised the banks on Taiwanese law.
|China/Hong Kong
• Latham & Watkins Hong Kong partners Amy Beckingham, Benjamin Su and Terris Tang are advising ESR Cayman Ltd, a Hong Kong-based logistics real estate developer backed by private equity firm Warburg Pincus LLC, on an initial public offering in Hong Kong that could raise up to $1.5 billion, according to Reuters. The issuer is being advised by Global Law Office on Chinese law, White & Case on Singaporean law, Nagashima Ohno & Tsunematsu on Japanese law, Shin & Kim on Korean law, Corrs on Australian law, and Kanga & Co on Indian law. The proceeds of the IPO will be mostly used to repay loans and redeem convertible preference shares, develop logistics properties, and fund mergers and acquisitions and strategic investments. Freshfields Bruckhaus Deringer Hong Kong partner Grace Huang and Singapore partners Stephen Revell and Arun Balasubramanian are advising CLSA and Deutsche Bank as the joint sponsors. Commerce & Finance Law Offices Shanghai partner Jiang Haitao is advising the banks on Chinese law. [Read Full Story]
• Clifford Chance advised Chinese property developer China Resources Land Ltd on an $800 million bond sale, which includes $300 million in five-year notes and $500 million in 10-year notes. Maples Group Hong Kong partner Derrick Kan acted as Cayman Islands counsel to the issuer. Linklaters advised CCB International Holdings Ltd, ABC International, DBS Bank, Bank of America Merrill Lynch, Bank of China and HSBC as the arrangers.
• Freshfields Bruckhaus Deringer represented Chinese goldminer Zhaojin Mining International Finance Ltd on a $300 million bond sale. Maples Group Hong Kong partner Lorraine Pao acted as British Virgin Islands counsel to the issuer. Clifford Chance advised the joint lead managers, which included Credit Suisse Group, Zhongtai International, Standard Chartered Bank and China CITIC Bank International.
• Sidley Austin represented Chinese property developer CIFI Holdings Group Co Ltd on a $300 million bond sale. Maples Group Hong Kong partner Lorraine Pao acted as Cayman Islands and British Virgin Islands counsel for the issuer. Davis Polk & Wardwell advised Standard Chartered Bank, CEB International, Credit Suisse, Deutsche Bank, Guotai Junan International, Haitong International, HSBC, J.P. Morgan and UBS as the the initial purchasers.
• Skadden, Arps, Slate, Meagher & Flom advised Chinese real estate consultancy E-House China Enterprise Holdings Ltd on a $200 million bond sale. Maples Group Hong Kong partner Derrick Kan acted as Cayman Islands and British Virgin Islands counsel to the issuer. Sidley Austin advised the joint lead managers, which included Credit Suisse, BOC International, China International Capital Corp and China Merchants Securities.
• Dechert Hong Kong partner Stephen Chan represented Zhejiang New Century Hotel Management Co Ltd on a $150 million initial public offering in Hong Kong. King & Wood Mallesons served as Chinese counsel to the issuer. New Century Hotel plans to use the majority of the proceeds for developing hotels, upgrading its information technology system infrastructure, marketing and recruitment. Stephenson Harwood advised China Galaxy International and BOCOM International as the joint sponsors. Big Four accounting firm EY's affiliated firm in Shanghai, Chen & Co. Law Firm, advised the banks on Chinese law.
|Related Stories:
Latham, Freshfields Advise on Warburg-Backed Logistics Real Estate Developer's $1BN Hong Kong IPO
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