Baker McKenzie acted as Thai and English law counsel to Singha Estate Public Company Limited on its dual-track offering of USD 180 million of convertible bonds and USD 50 million of shares, which comprised 400 million ordinary shares, under Regulation S. The new USD 180 million non-call three CBs are due August 2022. This is the largest convertible bond offering by a Thai company since 2014. The CBs are backed by a standby letter of credit issued by Krung Thai Bank and the transaction also had a stock borrow feature.

On July 6, 2017, Zur Rose Group AG, the leading "pure play" e-commerce pharmacy in Europe, completed its initial public offering (IPO) and listing on SIX Swiss Exchange (ticker symbol: ROSE / ISIN: CH0042615283) with a total placement volume of CHF 252 million. The base offering consisted of up to 1,806,052 registered shares with a greenshoe option of up to 270,908 registered shares. The trading of the shares on the SIX Swiss Exchange commenced on July 6, 2017. The IPO closed on July 10, 2017 and the option closing occurred on July 17, 2017. The banking syndicate comprised UBS AG and Joh.

Macfarlanes has advised UK-based Supermarket Income REIT PLC on its IPO onto the Specialist Fund Segment of the Main Market of the London Stock Exchange today, raising gross proceeds of £100m.

The company will use the IPO proceeds to buy a portfolio of supermarket real estate assets in the UK, with the intention of becoming a real estate investment trust (REIT).

Travers Smith LLP has advised new corporate client Record plc in connection with its £10 million return of capital to shareholders by way of a tender offer and buyback of shares, which was announced on 21 June 2017. Cenkos Securities plc acted as broker for Record plc on the tender offer.

The transaction was approved by shareholders at a general meeting on 14 July 2017 and completed, subject to stamping by HMRC, on 17 July 2017.

The Travers Smith team was led by Corporate Partner Richard Spedding, with Corporate Associate James Addison.

Allen & Overy has advised the arrangers, Barclays and JP Morgan, on the GBP4 billion refinancing of securitisations issued by Annington Homes. Annington’s primary business is the rental of residential property to the Ministry of Defence and is one of the largest private owners of residential property in the UK. Annington Homes is owned by Terra Firma, one of Europe’s leading alternative investment platforms.

Global law firm White & Case LLP has advised the bank syndicate led by Morgan Stanley and Société Générale on the initial public offering of Carmila on the regulated market of Euronext Paris.

The prospectus received the visa from the French financial markets authority (Autorité des marchés financiers) on June 23, 2017 and the settlement of the offer took place on July 10, 2017.

Leading international law firm Clifford Chance advised DBS Bank Ltd., Morgan Stanley Asia (Singapore) Pte., UBS AG, Singapore Branch, as the joint issue managers, and DBS Bank Ltd., Morgan Stanley Asia (Singapore) Pte., UBS AG, Singapore Branch, Merrill Lynch (Singapore) Pte. Ltd., Citigroup Global Markets Singapore Pte.

Hong Kong – Paul Hastings, a leading global law firm, announced today that it represented Zhongyuan Bank, the largest city commercial bank in Henan province, China, as the issuer in its US$1.04 billion global offering and listing of H-Shares on the Main Board of The Stock Exchange of Hong Kong Limited. CITIC CLSA, JP Morgan, CCB International and CMB International acted as the joint sponsors of the share offer.

Zhongyuan Bank intends to use the net proceeds from the offering to strengthen its capital base to support the ongoing growth of its business.

Freshfields Bruckhaus Deringer ("Freshfields") has advised on the US$150m IPO of Inner Mongolia Energy Engineering Co., Ltd. ("Inner Mongolia Energy Engineering"). The firm acted as Hong Kong and US legal counsel to the underwriters China International Capital Corporation Hong Kong Securities Limited and BOCI Asia Limited. The shares commenced trading on the Hong Kong Stock Exchange on 18 July 2017.

This transaction comes shortly after the team worked alongside FinnCap Ltd on the successful IPO of Velocity Composites plc in May. The net proceeds will be used to support Altitude's Channl.com ecommerce platform, which provides sites for personalised product distributors and their customers, in exchange for a percentage of supplier revenue. In particular it will fund the UK launch of the platform, via the purchase of assets of AdProducts.com Ltd for £800,000.

Lisa Stavropoulos in the Manchester Corporate team advised FinnCap Ltd