Addleshaw Goddard's Hong Kong equity capital markets team (ECM) has capitalised on the surge in liquidity in the Hong Kong initial public offering (IPO) market, to complete its fourth IPO in as many weeks – advising the sponsor, Guotai Junan Capital Limited, and the underwriter, Guotai Junan Securities (Hong Kong) Limited on the top–tier HK$1.2bn (£124m) listing of Nanfang Communication Holdings Limited, a high profile Chinese company in the Telecoms sector, on the Main Board of the Hong Kong Stock Exchange (HKEX).

Expedia is one of the world’s leading travel companies, with an extensive brand portfolio that includes some of the world’s most trusted online travel brands, including trivago. trivago is a global hotel search platform, in which Expedia holds 65.6% of the shares.

Kirkland & Ellis represented the eight investment banks acting as underwriters in the US$629 million global offering and listing on the Hong Kong Stock Exchange of Meitu, Inc., a leading PRC mobile Internet company. The listing, which was the largest in Hong Kong by a technology company since Alibaba’s B2B unit went public in 2007, took place on December 15, 2016.

Charles Russell Speechlys was pleased to act for Stockdale Securities on the admission of ECSC Group plc to AIM on 14 December 2016. ECSC raised £5.9 million through the issue of 8.9 million shares at 167 pence each.

ECSC is a proven provider of cyber security services that offers a comprehensive range of solutions to a wide variety of clients across a diverse range of sectors. The Company’s solid blue-chip client base includes Barclays and GCHQ.

Travers Smith LLP has advised GLIL Infrastructure LLP (GLIL) in relation to its further fund-raising round, which has increased its total deployable capital to £1.275 billion. Originally established in April 2015 as a £500m joint venture between the London Pensions Fund Authority and the Greater Manchester Pension Fund to invest in UK infrastructure assets, the extension to the platform has seen three of the largest UK local government pension schemes, the Lancashire, Merseyside and West Yorkshire Pension Funds, join the pool.

Ashurst has advised BofA Merrill Lynch, JM Financial, J.P. Morgan, Kotak and Morgan Stanley in connection with the US$450 million Indian IPO of PNB Housing Finance.  PNB Housing Finance is one of India's largest mortgage lenders and is backed by Punjab National Bank, one of India's largest banks, and the Carlyle Group. 

The transaction was led by corporate partner Stuart Rubin and counsel Ethan Perry.  The wider deal team included tax partner David Nirenberg and corporate associate Zak Worrall.

Allen & Overy has advised Advent International plc (“Advent”) as the financial sponsor of India’s first synthetic INR denominated margin loan. The reference asset for the loan is Advent's equity shareholding of Crompton Greaves Consumer Electricals Limited (“CGCEL”). CGCEL is listed on India's National Stock Exchange and the Bombay Stock Exchange and is a leading manufacturer of a wide spectrum of consumer products ranging from fans, light sources and luminaires, pumps and household appliances, such as geysers, mixer grinders, toasters and irons.

King & Wood Mallesons (KWM) acted on behalf of joint lead managers Morgan Stanley and Deutsche Bank during Santos Limited’s recent A$1.5bn capital raising.

KWM Partners David Eliakim and David Friedlander advised on the equity raising, with the support of Solicitors Akshay Naran and Anna Chen in London.

Mr Friedlander said KWM offers a strong track record regarding significant capital raising initiatives, with the firm also advising on Santos’ $3.5bn capital raising in late 2015.

 Vinge has advised Edgeware AB (publ) (“Edgeware”) in connection with its listing on Nasdaq Stockholm. The prospectus was published on 29 November 2016 and the first day of trading on Nasdaq was 9 December 2016. The offer price was set at SEK 29 per share, which corresponded to a market value for the total number of shares in the company of approximately MSEK 870. The total value of the offering amounted to MSEK 450 provided an overallotment option was exercised in its entirety.
 

On 9th December, trading started in Edgeware AB's shares on Nasdaq, Stockholm. Edgeware is a global, high tech company which enables efficient and scalable streaming of TV and video over the internet. The company was founded in 2004 and has its head office in Stockholm, a subsidiary in USA and offices in Hong Kong as well as Mexico. The subscription price was set at 29 Swedish crowns which is the equivalent to a share market value in Edgeware of approximately 871 million Swedish crowns.