Rare public debut for a Colorado tech firm is latest in spur of capital markets activity
Cooley advised digital communication platform SendGrid on its $131.2 million initial public offering of 8.2 million shares of common stock. The underwriters have an option to purchase additional shares. Michael Platt, partner in charge of Cooley’s Colorado office, led the team advising SendGrid.
Skadden is advising China-based Yixin Group Ltd., a subsidiary of Bitauto Holdings Ltd., on its HK$6.77 billion (approximately US$870 million) listing on the Hong Kong Stock Exchange.
Davis Polk advised Banco Bilbao Vizcaya Argentaria, S.A. on its SEC-registered offering of $1 billion liquidation preference of non-step-up, non-cumulative contingent convertible perpetual preferred tier 1 securities. The preferred securities will be listed on the Irish Stock Exchange.
The A$97 million equity raising consists of a 1 for 1 accelerated non-renounceable pro-rata entitlement offer to raise approximately A$74.6 million and a A$22.4 million institutional placement to existing and new investors.
Lead partner Antonella Pacitti commented: "We have worked with the MMA team for a number of years and are delighted to serve as the Company's trusted advisers, across a range of practice areas, and to work alongside them as MMA continues to confront ongoing challenges in its market and positions itself for better times ahead."
Freshfields Bruckhaus Deringer (‘Freshfields’) has advised on two significant listings this week by tech company, Razer Inc., and fintech company, Yixin Group Limited, on the Hong Kong Stock Exchange.
Clyde & Co has advised General Insurance Corp of India (GIC Re) on its Initial Public Offer (IPO), which listed in India on 23 October 2017.
The IPO of the state-owned reinsurer was the third largest in Indian history at USD1.75 billion and was one of the largest IPOs in Asia in 2017. GIC Re is the 3rd largest reinsurance company in Asia and the 12th largest in the world.
Clyde & Co, led by Partner John Chrisman, acted as US and international counsel representing GIC Re and the Government of India on the IPO.
InflaRx N.V., a clinical-stage biopharmaceutical company, placed 6,667,000 common shares in the IPO with a share price of $15.00 raising approximately $100 million of primary gross proceeds (total market capitalisation of $351,164,580). Trading of the shares on the NASDAQ Global Select Market commenced on 8 November 2017 under the ticker symbol “IFRX”.
Loyens & Loeff acted as Dutch corporate counsel to the underwriters. In this transaction Loyens & Loeff worked closely together with Goodwin Procter LLP.
Clifford Chance has advised BNP Paribas, HSBC Bank plc, Merrill Lynch International and UniCredit Bank AG, as Global Coordinators and Joint Lead Managers, and Bayerische Landesbank and Danske Bank A/S, as Joint Lead Managers, on the issue of EUR 400,000,000 hybrid securities by Eurofins Scientific SE ("Eurofins"), acting through its French branch.
The hybrid securities issued by Eurofins, a global leader in bioanalytical testing, have no specified maturity and are accounted for as 100% equity according to the international financial reporting standards (IFRS).
MinterEllison has advised BWX Limited (BWX) on its fully underwritten 1 for 5.7 pro-rata accelerated renounceable entitlement offer to raise A$100m to fund its acquisition of Andalou Naturals, Inc. in the US.
With an emphasis on natural, organic and sustainable products, BWX develops, manufactures, markets and distributes branded skin and hair care products to the beauty and personal care market.
Paul Hastings, a leading global law firm, announced today that the firm advised Morgan Stanley as the sole sponsor and sole global coordinator, and Morgan Stanley and CMB International as the joint bookrunners and joint lead managers in Bestway Global Holding Inc.’s (“Bestway Global”) US$149 million Hong Kong IPO. Bestway Global is a Shanghai-headquartered Chinese maker of outdoor leisure products including above-ground pools, portable spas, sporting goods and camping products.