On September 18, 2018, Feintool International Holding AG successfully placed 451,871 new shares sourced from existing authorized capital by way of an accelerated book-building procedure. The shares were sold in a private placement at CHF 112.50 per new share. The gross proceeds from the placement amount to CHF 50.8 million. The new shares will be listed and admitted to trading on SIX Swiss Exchange on September 20, 2018. Payment and settlement will take place on the same date.
 

Davis Polk advised the underwriters as joint global coordinators in the Hong Kong initial public offering of Meituan Dianping. The gross proceeds from the offering amounted to approximately HK$33.14 billion (US$4.22 billion) prior to the exercise of the over-allotment option.

Meituan Dianping is China’s leading e-commerce platform for services. It uses technology to connect consumers and merchants. Service offerings on Meituan Dianping’s platform address people’s daily needs for food and extend further to broad lifestyle and travel services.

Davis Polk advised X Financial on its SEC-registered initial public offering of 11,000,000 American Depositary Shares for an aggregate price to the public of $104.5 million. X Financial has granted the underwriters an option to purchase up to 1,650,000 additional ADSs. Each ADS represents two Class A ordinary shares of X Financial. The ADSs are listed on the NYSE under the symbol “XYF.”

Orrick represented the key institutional shareholders in Farfetch’s $5.8 billion initial public offering on the New York Stock Exchange.

Orrick advised JD.com and Condé Nast, as shareholders, and Vitruvian Partners, as a selling shareholder, in Farfetch’s $5.8 billion initial public offering on the New York Stock Exchange. Additional information about the IPO is available in Farfetch’s press release.

International law firm Watson Farley & Williams (“WFW”) has advised long-term client Chaarat Gold Holdings Ltd (“Chaarat Gold”) on the successful closing of the US$17m first phase of an up to US$100m convertible debt placement with both new and existing investors.

Slaughter and May, working as an integrated team with Wachtell, Lipton, Rosen & Katz, is advising Marsh & McLennan Companies Inc. (“MMC”) on the recommended cash acquisition for the entire issued and to be issued share capital of Jardine Lloyd Thompson Group plc (“JLT”). The acquisition was announced on 18 September 2018. Under the acquisition, each JLT shareholder will be entitled to receive £19.15 in cash for each JLT share. The acquisition values JLT's issued and to be issued share capital at approximately £4.3 billion.

Storytel AB (publ), with its shares traded on the Spotlight Stock Market, has resolved on a directed share issue which will provide the company with gross proceeds of approximately SEK 500 million. Storytel has a market cap of approximately SEK 6 billion.

Storytel intends to use the net proceeds from the directed share issue to enable geographic expansion, in existing markets and the new regions Latin America and Asia.

LONDON – Reed Smith has advised the joint bookrunners, Jefferies International Limited (Jefferies) and Stifel Nicolaus Europe Limited (SNEL), on a secondary fundraising for infrastructure investment company BBGI Sicav (BBGI).

The accelerated bookbuild, which closed on 13 September, raised £67.2 million through the placing of 48 million shares, which will be admitted to the premium segment of the official list and to trading on the London Stock Exchange’s main market.

Sidley has advised on the initial public offering of Innovax Holdings Limited (Innovax) (HKEX: 2680) on the Main Board of the Stock Exchange of Hong Kong Limited. Our clients were Innovax Capital Limited and Sinolink Securities (Hong Kong) Company Limited as joint sponsors, Innovax Securities Limited, Sinolink Securities (Hong Kong) Company Limited, BMI Securities Limited, Marketsense Securities Limited and Telecom Digital Securities Limited as the underwriters. The total offering amount was HK$180 million (approximately US$23.1 million).