Ashurst has advised Genworth Mortgage Insurance Australia Limited (Genworth Australia) on its initial public offering (IPO). Genworth Australia was listed on 20 May 2014 with a market capitalisation of around $1.7 billion at listing, and will be included in key Australian indices.
The IPO, which is the largest in Australia to date in 2014, is the first insurance company IPO since 2003 and has performed well post listing.
Linklaters advised Merrill Lynch International and J.P. Morgan in the context of the disposal by Wendel, a listed investment company, of 24 million shares which Wendel held in Saint-Gobain, the world leader in the building materials and construction. This disposal represents approximately 4.3% of the total share capital of Saint-Gobain, with a value of around one billion euro.
The Linklaters team was led by Bertrand Sénéchal and Luis Roth, partners in the Capital Markets practice, assisted by associate Aymeric de Mol.
Davis Polk advised Goldman Sachs International and Morgan Stanley & Co. International plc as joint global coordinators and joint bookrunners, and Citigroup Global Markets Limited, HSBC Bank plc, Mediobanca – Banca di Credito Finanziario S.p.A., Merrill Lynch International and UBS Limited as joint bookrunners, in connection with an offering by National Bank of Greece S.A. of 1,136,363,637 new ordinary shares at a price of €2.20 per share. The total gross proceeds from the offering amounted to €2.5 billion.
Davis Polk advised J.P. Morgan Securities Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated as representatives of the several underwriters in connection with an SEC registered offering by SVB Financial Group of 4,485,000 shares of its common stock. The amount sold includes 585,000 shares from the full exercise of the underwriters’ over-allotment option. The gross proceeds from the offering were approximately $435 million.
Davis Polk is advising UBS Limited as process bank and joint bookrunner and Banco Santander S.A., Barclays Bank PLC, Commerzbank Aktiengesellschaft, Goldman Sachs International and J.P. Morgan Securities plc as joint bookrunners for a rights offering of up to approximately 300,000,000 new ordinary shares of Deutsche Bank AG, which is expected to raise gross proceeds of approximately €6.3 billion (approximately $8.6 billion). Deutsche Bank is also acting as global coordinator of the offering.
Travers Smith corporate partner Andrew Gillen and corporate associate William Young have advised Numis Securities Limited on the £80m IPO of Shoe Zone plc on AIM. Numis was Nominated Adviser and Broker to Shoe Zone on the IPO.
Shoe Zone is a leading UK specialist value footwear retailer, offering low price and high quality footwear for the whole family, which operates from a portfolio of 553 stores and employs approximately 4,100 employees across the UK and the Republic of Ireland.
Pinsent Masons is advising Fair Oaks Capital, an independent advisory firm focussed on global credit, on the launch of Fair Oaks Income Fund and its listing on the London Stock Exchange (LSE). Fair Oaks Capital has been established by former GSO/Blackstone and Stone Tower Capital principals.
Investment funds co-head, Daniel Greenaway is leading a team at Pinsent Masons including the firm’s co-head of corporate finance, Louise Wolfson, and members of the tax and regulatory groups.
Herbert Smith Freehills has advised Chinese conglomerate Fosun International Limited on its HK$4.88 billion (US$629.5 million) rights issue in Hong Kong.
Fosun International offered 500,884,371 rights shares at the subscription price of HK$9.76 per share. The offering will commence trading on the Hong Kong Stock Exchange on 23 May 2013.
Clifford Chance has advised Symrise AG on a capital increase from its authorised capital. Symrise issued 11,150,000 new shares to institutional investors at EUR 36 each, total around EUR 400 million. The new shares were approved for trading in the Prime Standard segment of the Regulated Market at Frankfurt Stock Exchange.
Part of the proceeds from the capital increase is due to be used to finance the acquisition of the Diana Group announced on 12 April 2014.
Davis Polk advised Morgan Stanley & Co. International plc and J.P. Morgan Securities LLC as representatives of the underwriters of an offering by Cheetah Mobile Inc. (Cheetah) of 12,000,000 American Depositary Shares, each representing ten Class A ordinary shares of Cheetah, for a total proceeds of US$168 million. The company has granted the underwriters an option to purchase up to an additional 1,800,000 ADSs. The ADSs are listed on the NYSE under the symbol “CMCM.”