Simpson Thacher represented BEST Inc. (“BEST”) in connection with its initial public offering and listing on the New York Stock Exchange of 45,000,000 American Depositary Shares, representing 45,000,000 Class A ordinary shares. BEST raised a total of US$450 million in gross proceeds from the IPO before exercise of the underwriters’ overallotment option. Citigroup, Credit Suisse, Goldman Sachs, J.P. Morgan and Deutsche Bank acted as joint bookrunners. This is the largest IPO in the United States by a Chinese company this year to date.

Davis Polk advised the joint book-running managers and representatives of the underwriters on the $172.5 million initial public offering by Zai Lab Limited of 9,583,333 American Depositary Shares, which includes the 1,250,000 shares sold pursuant to a full exercise of the underwriter’s over-allotment exercise. The ADSs are listed on the NASDAQ Global Market under the symbol “ZLAB.”

Warehouse REIT set to use proceeds to acquire Tilstone Property

A warehouse investment company that works with  Amazon, Asda, Argos and others has raised £150m on its London Stock Exchange flotation in a deal on which Irwin Mitchell has advised Peel Hunt, the company’s broker and AIM nominated adviser.

The company, Warehouse REIT, will use the proceeds to acquire the 27-asset Tilstone Property Portfolio for £108 million. The diversified UK property portfolio, let to 129 tenants, is a mixture of freehold and long-hold assets.

Freshfields advises Sisram Medical on the first-ever Israeli company listing on the HKSE
Freshfields Bruckhaus Deringer (“Freshfields”) has advised Sisram Medical Ltd (“Sisram Medical”) on its Hong Kong IPO.  Sisram Medical is the first Israeli incorporated company to be listed on the Hong Kong Stock Exchange (“HKSE”).

Dentons Hong Kong's corporate finance team recently represented China International Capital Corporation Hong Kong Securities Limited and Jefferies Hong Kong Limited in connection with the IPO listing of Sisram Medical Ltd., the first ever Israeli company to list on Hong Kong Stock Exchange.

The global offering of 110,000,000 shares seeks to raise approximately US$200 million. The company published its Hong Kong prospectus on 5 September 2017. Dealings in the shares on the Hong Kong Stock Exchange commenced on 19 September 2017.

Clifford Chance advised PT Chandra Asri Petrochemical Tbk, Indonesia's largest integrated petrochemical manufacturer, on its US$378 million (Rp 5.03 trillion) rights issue.

Deutsche Bank AG, Hong Kong branch acted as the sole global coordinator and BNP Paribas, CLSA Limited, Credit Suisse (Singapore) Limited and PT Mandiri Sekuritas acted as the Joint Bookrunners. PT Mandiri Sekuritas also acted as the standby purchaser of the shares.

The Firm recently represented the international joint lead managers in connection with a follow-on offering of Nippon Prologis REIT, Inc., which included an international offering to institutional investors pursuant to Rule 144A and Regulation S. The offering raised approximately ¥33.1 billion (US$300 million) for the issuer, which was used with bank financing and cash on hand towards the repayment of bridge loans entered into to acquire logistics facilities. Morgan Stanley, SMBC Nikko, Goldman Sachs International, J.P.

We advise Rettig Group acting as a cornerstone investor in the contemplated initial public offering and listing of Terveystalo Oy’s shares on the official list of Nasdaq Helsinki Ltd. Rettig Group is acting as one of four cornerstone investors in the contemplated initial public offering.

King & Wood Mallesons (KWM) has advised Weichai Power Co., Ltd. (Weichai Power) as its international counsel on its USD775 million 3.750% senior perpetual bonds offering. The bonds are issued by Weichai International Hong Kong Energy Group Co., Limited, a wholly-owned subsidiary of Weichai Power and unconditionally guaranteed by Weichai Power.

This transaction marks Weichai’s debut perpetual bond offering in the international bond market, as well as the largest perpetual bond offering ever by a PRC company.

Clifford Chance advised Waterland Private Equity Investments (“Waterland”) a Dutch-based buyout firm, on the fundraising of EUR 2 billion for its seventh institutional fund, Waterland Private Equity VII (WPEF VII).

Waterland spent less than two months on the road after the initial launch of WPEF VII, which was heavily oversubscribed. The investor base comprises commitments from Europe (40%), the United States (42%), the Middle East (12%) and Asia Pacific (6%).