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Banking & Finance - Capital Markets: Equity

150 million Preference Shares of China Construction Are Listed at Shanghai Stock Exchange

18 Mar 2015

150 million preference shares of China State Construction Engineering Corporation Limited (stock code: SH601668, "China Construction") were successfully listed at Shanghai Stock Exchange. On 30 December 2014, China Construction received approval from the China Securities Regulatory Commission ("Commission") in respect of the non-public issuance of no more than 300 millionpreference shares by China Construction.

Slaughter and May advised GlaxoSmithKline - sale of part of its stake in Aspen and its entire stake in Genmab

17 Mar 2015

Slaughter and May advised GlaxoSmithKline plc (GSK) on the sale of approximately half of its 12.4% stake in Aspen Pharmacare Holdings Ltd (Aspen) which was announced on 13 March 2015. The disposal was effected by way of an accelerated bookbuilt offering and raised gross proceeds equivalent to £574 million. Following the sale, GSK will hold approximately 6.2% of the issued share capital of Aspen.

Freshfields advises on US$750m HKBN IPO

17 Mar 2015

Freshfields Bruckhaus Deringer has advised HKBN Ltd. (HKBN) and CVC Capital Partners (CVC) on HKBN’s US$750m IPO on the Hong Kong Stock Exchange.

HKBN is the parent company of Hong Kong Broadband Network Limited, the largest provider of residential fibre broadband services in Hong Kong by number of residential subscriptions. On listing, HKBN had a market capitalisation of approximately US$1.2bn.

Davis Polk Advises Novo Nordisk A/S and NNIT A/S on the Initial Public Offering of NNIT

17 Mar 2015

Davis Polk advised Novo Nordisk A/S and NNIT A/S on the initial public offering of shares and listing on the NASDAQ OMX Copenhagen under the symbol “NNIT.” The offering comprised a sale of 10,000,000 shares sold by NNIT’s sole shareholder, Novo Nordisk. There is an overallotment option in respect of an additional 1,5000,000 shares. With an offer price set at DKK 125 per share, the total gross proceeds amounted to DKK 1.25 billion (approximately US$182 million), assuming no exercise of the overallotment option.

Cadwalader Advises Suchuang Gas Corporation in IPO on the Hong Kong Stock Exchange

17 Mar 2015

Cadwalader, Wickersham & Taft LLP has advised Suchuang Gas Corporation Limited (“Suchuang Gas”) regarding Hong Kong law on the US$54 million initial public offering of shares listed on the Hong Kong Stock Exchange, underwritten by BNP Paribas, Haitong International and CIMB. Suchuang Gas is the dominant piped natural gas operator in Taicang in Jiangsu Province, China.

The Cadwalader team was led by capital markets partners Joseph Lee and David Neuville, and included associates Eugene Gu, Claudia Yiu, Christopher Ma and Anny Cheng, all based in Hong Kong.

Deacons advises on three Hong Kong IPO debuts on the same day

13 Mar 2015

Deacons recently acted for the sponsors and underwriters in the Main Board IPOs of three companies, Suchuang Gas Corporation Limited (a Jiangsu-based natural gas operator), Beijing Chunlizhengda Medical Instruments Co., Ltd. (China’s leading maker of bone implants) and KTL International Holdings Group Limited (a fine jewelry exporter).  All three firms made their debuts on 11 March 2015.

Pinsent Masons advises IP Group on its £128 million fundraising

13 Mar 2015

Pinsent Masons has advised IP Group plc on its share issue to raise approximately £128 million through the issue of shares by way of a firm placing, placing and open offer.

The Pinsent Masons team acting on the transaction was led by corporate partner Russell Booker supported by senior associate Jayson Marks and associates Sandra Plantier, Rhodri Evans, Mark Stephens and Victoria Baron.

Commenting on the deal Russell Booker said:

VINGE ADVISES CARNEGIE IN CONNECTION WITH HANSA MEDICAL’S CAPITAL PROCUREMENT AND SALE OF FARSTORPS GARD’S SHARES

11 Mar 2015

Hansa Medical has resolved to perform a rights issue of MSEK 246 before issue costs. The new issue of shares is fully underwritten through subscription and guarantee commitments. The funds raised will be used to finance the company’s future research and development activities. In connection herewith, the company also announced that Hansa Medical’s former majority shareholder, Farstorps Gard has sold some of its holding to certain Swedish and international institutional owners.