Milbank, Tweed, Hadley & McCloy advised Haichang Holdings Ltd. (“Haichang”) in the approximately US$316 million global offering and initial public offering of its shares on the Hong Kong Stock Exchange - the first global offering by a theme park operator in Hong Kong.
Shearman & Sterling represented Genmab A/S in connection with an underwritten private placement of 4,600,000 of its ordinary shares for aggregate gross proceeds of $180 million. The private placement included sales to institutional investors in Denmark and internationally. Jefferies International Limited and Kempen & Co N.V. acted as co-managers for the private placement. The proceeds from the private placement will be used to further develop Genmab’s clinical and pre-clinical pipeline.
The corporate team at Nabarro has advised Hiscox on a £200 million return of capital to its shareholders. This is the latest in a variety of matters on which the firm has advised the market leading FTSE 250 specialist insurance group.
The transaction was structured as an issue of C shares (the income option) and D shares (the capital alternative) to existing ordinary shareholders. It is combined with an 89 for 100 share consolidation to preserve the net asset value per share.
Hogan Lovells has advised long-standing client Shaftesbury PLC on the placing of 25,250,000 new ordinary shares for £156.6 million, announced on Thursday 6 March 2014.
The Placing Shares were placed at a price of 620 pence each, raising gross proceeds of approximately £156.6 million. The Placing Shares represent approximately 9.99% of Shaftesbury's issued ordinary share capital prior to the Placing.
Clifford Chance has advised Malaysia Airport Holdings Berhad on the international law aspects of its placement of approximately 124 million new shares, raising approximately US$298 million (MYR980 million). CIMB, Credit Suisse (Singapore) and JP Morgan Securities (Malaysia) acted as placement agents on this transaction.
The funds raised will be used to acquire a 40% stake in Turkish airports, Istanbul Sabiha Gökçen International Airport and similar stake in LGM Havalimani Isletmeleri Ticaret Ve Turizm AS.
Leading global law firm Mayer Brown has advised the UK’s leading regeneration specialist, St. Modwen Properties PLC, on the launch of an offering of £100 million of Guaranteed Convertible Bonds due 2019.
Latham & Watkins advised Qatar Petroleum (QP) on the US$880 million (QAR3.2 billion) initial public offering (IPO) of shares in Mesaieed Petrochemical Holding Company Q.S.C. (MPHC), a QP subsidiary, at an offer price of QAR10 per share plus offering and listing costs.
Squire Sanders’ Global Corporate Practice has advised one of the shareholders in Lenta Ltd on the sale of its shares, as part of Lenta’s $4.3 billion IPO and GDR listing on the Main Market of the London Stock Exchange and the Moscow Exchange (including a $952 million secondary offering).
The team was led by Corporate partner David Wack (Moscow and London) and London Capital Markets expert Giles Distin.
Baker & McKenzie's securities team advised CITIC Securities, as sole sponsor, and CLSA, as sole global coordinator, on the US$330 million global offering of Poly Culture Group Corporation Limited ("Poly Culture"). The global offering received overwhelming interest from investors, and the Hong Kong retail offering was over-subscribed by more than 600 times. The H shares of Poly Culture commenced trading on The Stock Exchange of Hong Kong Limited on 6 March 2014.
Lawrence Graham LLP has advised Beaumont Cornish Limited, sponsor to Global Resources Investment Trust plc ("GRIT"), a new investment trust established to seek to exploit investment opportunities in the junior mining and natural resource sectors, on the admission of its ordinary shares to listing on the premium listing segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities. Admission took place on Friday 7 March 2014, following the publication of GRIT's prospectus on Friday 28 February 2014.