The Firm represented GDS Holdings Limited (“GDS”) in connection with its follow-on offering of 13,731,343 American Depositary Shares (ADSs), each representing eight of its Class A ordinary shares. The offering raised a total of US$460 million in gross proceeds including full exercise of the underwriters’ overallotment option. GDS will use the net proceeds from the offering in connection with the development and acquisition of new data centers and for other general corporate purposes. J.P.

Aoyuan Healthy Life Group Company Limited (HKEX: 3662) (Aoyuan Healthy) was successfully listed on the Main Board of the Stock Exchange of Hong Kong Limited.

Million Hope Industries Holdings Limited (HKEX: 1897) was successfully listed by way of introduction on the Main Board of the Stock Exchange of Hong Kong Limited. Sidley was the Hong Kong legal counsel to VMS Securities Limited as the sole sponsor.

Million Hope Industries Holdings Limited and its subsidiaries is a subcontractor principally engaged in the design, supply and installation of facade and curtain wall systems with a focus on curtain walls, aluminum windows and doors, with an operating history of over 20 years in Hong Kong.

Global law firm DLA Piper is advising fund manager Pengana Capital Group Limited (ASX: PCG) on its initial public offering (IPO) on the ASX of the Pengana Private Equity Trust (ASX: PE1), Australia’s first global private equity listed investment trust (LIT).

The IPO of the new investment trust on the ASX will include the issue to the LIT of alignment shares in the ASX listed Pengana Capital Group.

International law firm Clifford Chance acted as legal counsel to Stifel Nicolaus Europe Limited, Jefferies International Limited and Zeus Capital Ltd on global legal business DWF Group’s GBP95 million initial public offering and admission to listing on the premium segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange, valuing the business at approximately GBP366 million.
The IPO is the largest listing of a law firm in the UK and the first-ever listing of a law firm on the main market of the London Stock Exchange.

The Firm represented Binjiang Service Group Co. Ltd. (“Binjiang Service Group”) in connection with its initial public offering in Hong Kong and Regulation S offering of 66,700,000 shares (before exercise of the underwriters’ overallotment option). The total offering size was HK$464.2 million (approximately US$59.5 million). The shares of Binjiang Service Group are listed on the Hong Kong Stock Exchange. CLSA Capital Markets Limited acted as the sole sponsor. CSLA Limited acted as the sole global coordinator.

Sidley represented JM Financial, Axis Capital and Morgan Stanley as the underwriters in the US$230 million initial public offering of equity shares of Chalet Hotels Limited pursuant to Section 4(a) and Regulation S.

Chalet Hotels is an owner, developer and asset manager of high-end hotels in India. Its platform comprises of five operating hotels, including a hotel with a co-located serviced residence, located in the key Indian cities of Mumbai, Hyderabad and Bengaluru.

Sidley represented ICICI Securities, Citigroup, Edelweiss, Spark Capital and HDFC Bank as the underwriters in the US$235 million initial public offering of equity shares of Aavas Financiers Limited pursuant to Section 4(a) and Regulation S.

Aavas Financiers Limited is a housing finance company which offers housing loans to customers belonging to low and middle income segments in semi-urban and rural areas of several states in India.

CMS is advising Main Market listed Datang International Power Generation Co. Ltd. (DAT) on the admission to trading of new H-Shares to the standard listing segment of London’s Main Market. DAT is one of the largest independent power generation companies in the People’s Republic of China, covering 18 provinces, municipalities and autonomous regions across the country. At the closing price of an H-Share on London, the new H-Shares were valued at £676 million.

The Firm represented GDS Holdings Limited (“GDS”) (NASDAQ: GDS) in connection with its US$150 million equity investment by China Ping An Insurance Overseas (Holdings) Limited (“Ping An Overseas Holdings”). The investment will be in the form of convertible preferred shares. GDS will use the proceeds from the investment to fund expansion of its data center capacity and for general corporate purposes.