Davis Polk advised Tencent Holdings Limited, a company listed on the Hong Kong Stock Exchange in connection with its spinoff of China Literature Limited by way of an initial public offering (including a public offering in Hong Kong and an international offering in reliance on Rule 144A and Regulation S) and separate listing of China Literature Limited on the Hong Kong Stock Exchange. The net proceeds from the global offering were approximately HK$7.17 billion ($919.2 million).

Davis Polk advised the placing agents for the top-up placement of up to 142,452,500 shares in Ronshine China Holdings Limited (Ronshine) for a total consideration of approximately HK$1.2 billion.

Ronshine is incorporated in the Cayman Islands with its shares listed on The Stock Exchange of Hong Kong Limited. Ronshine is principally engaged in the property development business in the PRC.

Travers Smith LLP has acted for Numis Securities Limited in its capacity as sole sponsor, financial adviser and bookrunner on the £31.4 million firm placing and placing & open offer of new ordinary shares issued by Norcros plc.

Norcros is the market leading supplier of innovative branded showers, taps, bathroom accessories, tiles and adhesives. The proceeds of the fundraise are to be used to part fund the £60m acquisition of Merlyn Industries Limited, a market leading, innovative designer and distributor of mid to high end branded shower enclosures.

Skadden advised China Literature Limited, a Tencent subsidiary and China’s largest online literature company, on its HK$8.3 billion (approximately US$1.06 billion) initial public offering on the Hong Kong Stock Exchange.

Paul Hastings, a leading global law firm, announced today that the firm advised Morgan Stanley and HSBC as the joint sponsors and Morgan Stanley, HSBC and Citi as the joint global coordinators and joint bookrunners in Hong Kong apparel manufacturer Crystal International Group Limited’s (“Crystal Group”) US$491 million Hong Kong IPO.

Shearman & Sterling advised Hexindai Inc. on its approximately $50 million initial public offering of American Depositary Shares on the NASDAQ Global Market. The successful completion marks the first consumer lending marketplace in China to list on the NASDAQ Global Market and the fourth Chinese company of such type to list in the U.S. to date.

The American Depositary Shares of Hexindai, priced at $10 each in the IPO, rose 26.6 percent to $12.66 on its debut on November 3, 2017. Network 1 Financial Securities acted as the underwriter for the offering.

The Firm represented the underwriters, led by Citigroup, Merrill Lynch and HSBC, in connection with the offering of US$500 million principal amount of Currency-Linked Zero Coupon Convertible Bonds (the “Bonds”) by Hon Hai Precision Industry Co. Ltd. (“Hon Hai”), also known as FoxConn. Hon Hai is headquartered in Taiwan and is the world's largest contract electronics manufacturer. The common shares of Hon Hai are traded on the Taiwan Stock Exchange under the trading code “2317.” The Bonds are listed on the Singapore Stock Exchange.

Davis Polk advised the joint bookrunners and joint global coordinators in connection with the international initial public offering by Loma Negra Compañía Industrial Argentina Sociedad Anónima and Loma Negra Holding GmbH, as selling shareholder, of an aggregate of 53,530,000 American Depositary Shares (including the full exercise of the underwriters’ overallotment option), each representing five of its ordinary shares, at a price per ADS of $19.00.

Allen & Overy LLP has advised Corestate Capital Holding S.A. in connection with the uplisting of its shares from the Open Market (Freiverkehr) (Scale segment) to the regulated market of the Frankfurt Stock Exchange with simultaneous admission to the sub-segment of the regulated market with additional post-admission obligations (Prime Standard).

The Firm represented Crystal International Group Limited (“Crystal Group”) in connection with its initial public offering in Hong Kong and Rule 144A/Regulation S offering of 509,300,000 shares (prior to the exercise of the overallotment option), which raised approximately HK$3.82 billion (US$490 million) in gross proceeds. The ordinary shares of Crystal Group are listed on the Hong Kong Stock Exchange. Morgan Stanley and HSBC acted as joint sponsors. Morgan Stanley, HSBC and Citi acted as joint global coordinators, joint bookrunners and joint lead managers.