Beijing and Hong Kong – Paul Hastings LLP, a leading global law firm, announced today that it has advised Morgan Stanley Asia Limited and CLSA Capital Markets Limited as joint sponsors in the US$160 million global offering and Hong Kong Stock Exchange IPO and listing of Chinese vaccine company CanSino Biologics Inc (“CanSinoBIO”).
Gide has advised the banks syndicate comprising HSBC, Natixis, Societe Generale and BNP Paribas on the issuance of bonds convertible into new shares and/or exchangeable for existing shares (OCEANE) by Air France-KLM for a total amount of €500 million at a rate of 0.125 per cent. and due 2026.
Gide’s team was led by partner Arnaud Duhamel and senior associate Guilhem Richard, assisted by associates Aude-Laurene Dourdain and Marilena Gryparis, on the French aspects and by partner Melinda Arsouze and senior associate Scott Logan on the US aspects.
Global law firm White & Case LLP has advised Air France-KLM, a leader in global air transport, on its issue of bonds convertible into new shares and/or exchangeable for existing shares (OCEANE) for an amount of approximately €500 million, launched on March 19, 2019.
The net proceeds from the issue of the bonds will be used by the group for general corporate purposes, including the refinancing of the subordinated perpetual notes issued in 2015 and callable in October 2020.
Davis Polk advised the representatives of the underwriters on the SEC-registered initial public offering by UP Fintech Holding Limited (Tiger Trade) of 13,000,000 American Depositary Shares, each representing 15 Class A ordinary shares, for total proceeds of $104 million. The underwriters have fully exercised the over-allotment option granted by Tiger Trade and purchased an additional 1,950,000 ADSs, for additional proceeds of $15.6 million. The ADSs are listed on the NASDAQ Global Select Market under the symbol “TIGR.”
FRISQ Holding AB (publ) has resolved to carry out a directed share issue which will provide the company with proceeds amounting to approximately SEK 67 million before transaction costs.
FRISQ intends to use the net proceeds from the directed new share issue to establish FRISQ in the US and to support a continued expansion and development of the company’s other operations, such as participation in larger tenders together with partners.
Law firm Stephenson Harwood has advised the joint sponsors – China Galaxy International Securities (Hong Kong) Co. Limited and BOCOM International (Asia) Limited – on the listing of the shares of Zhejiang New Century Hotel Management Co., Ltd. (New Century Hotel). The shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited, and the global offering raised HK$1,155 million.
Macfarlanes has advised private equity firm Epiris on its recommended offer of approximately £206m for IFG Group Plc.
IFG Group Plc is a financial services company with full market listings in London and Dublin. IFG’s two businesses, James Hay and Saunderson House, provide a range of financial solutions including full platform services, pension administration and independent financial advice.
The Macfarlanes team for this matter was led corporate and M&A partners Stephen Drewitt and Richard Burrows, alongside finance partner Kirstie Hutchinson.
On March 4, 2019, Minera Alamos Inc. (TSXV: MAI) (OTCQB: MAIFF) closed its previously announced non-brokered private placement offering of common shares for aggregate gross proceeds of $4,994,750.
Minera Alamos is an advanced-stage exploration and development company with a growing portfolio of high-quality Mexican assets.
Gowling WLG advised Minera Alamos on this transaction with a team that included Ian Mitchell and Josh Rosen, assisted by student-at-law Harrison Sversky.
NEW YORK—MARCH 21, 2019—O’Melveny represented UP Fintech Holding Limited (Tiger Brokers) (Nasdaq: TIGR) in its US$104 million IPO on the Nasdaq. Tiger Brokers offered 13 million ADSs at $8, above the range of $5 to $7. In addition, there is a greenshoe exercise option of 1,950,000 ADSs, for a total projected offering size of US$119.6 million should the overallotment option be exercised in full. The stock closed up over 30% on its first day of trading.
International law firm DAC Beachcroft is pleased to have advised Diaceutics plc (“the Company”) on the first initial public offering (IPO) to have taken place on the London Stock Exchange’s AIM market in 2019.
The Company was admitted to AIM today with a market capitalisation at opening of circa £62 million, having raised £17 million through the placing of circa 22.4 million new ordinary shares. In addition, circa five million existing ordinary shares were placed on behalf of existing shareholders.