White & Case Advises Zhong An Real Estate Limited on Initial Public Offering
Hong Kong, Beijing, Shanghai,
November 14, 2007 ... White & Case LLP advised leading Chinese property firm Zhong An Real Estate Limited on its HK$3.6 billion (approximately US$464 million) Rule 144A/Regulation S Initial Public Offering (IPO) with a listing of its shares on the mainboard of the Hong Kong Stock Exchange. This amount represents the proceeds raised before the over-allotment option is exercised. The Hong Kong public offering was approximately 177 times over-subscribed and the international offering was also very significantly over-subscribed. The issue was priced at the top end of the announced price range at HK$6.67 per share.
The White & Case team advising on the deal was led by partners Kenneth C. Ellis (Hong Kong) and Xiaoming Li (Beijing), and assisted by senior associate Vivian Tsoi (Beijing) and associates Charlotte Tse (Hong Kong) and Jiong Deng (Shanghai).
In Asia, White & Case has extensive experience executing complex capital markets offerings from its Hong Kong, Singapore and Bangkok offices. This year, White & Case advised on multiple leading IPOs in Asia, including:
- The US$2.25 billion IPO of DLF, Ltd, a leading Indian real estate company, on the National Stock Exchange of India and Bombay Stock Exchange. The flotation, which was 3.5 times over-subscribed, is the largest in Indian stock market history.
- The US$715 million Rule 144A/ Reg. S and Singapore Exchange Securities Trading (SGX-ST) IPO of Yangzijiang Shipbuilding (Holdings) Ltd.. This is the third largest offering ever to be listed on the SGX-ST and currently the largest initial public offering listed in Singapore for 2007.
- The US$318 million Rule 144A/Reg. S IPO of Parkway Life REIT on the SGX-ST.
About White & CaseWhite & Case LLP is a leading global law firm with 2,300 lawyers in 35 offices in 23 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to the business priorities and legal needs of our clients.
Contact: Patrick Dransfield Director of Marketing, Asia-Pacific White & Case LLP 852 2822 0406
Oscar Buitrago Practice Development Manager, Capital Markets Singapore 65 6347 1545
|