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Asia | 亚洲

Our Asian Equity Capital Markets team has the experience and capability in a full range of equity capital market (ECM) transactions, including primary offerings (IPOs), secondary offerings and block trades, listing by way of introduction and real estate investment trusts.

Our lawyers are experienced in assisting underwriters or issuers in initial and secondary public offerings and listings on the Main Board and Growth Enterprise Market of the Hong Kong Stock Exchange (HKEx). We also act on private placements, rights issues and retail or institutional offerings of existing issued securities.

We have excellent contacts and longstanding relationships with regulators in Hong Kong including the Hong Kong Securities and Futures Commission (SFC), the Hong Kong Exchanges and Clearing Limited (HKEx) and the Hong Kong Monetary Authority (HKMA).

Our ECM team has advised on over 100 IPOs and numerous secondary offerings. The team has represented issuers across a wide range of industries including mining, energy and resources, TMT, trading and manufacturing, real estate, agricultural and farming, healthcare and medical, climate change and clean energy. Private equity and venture-capital funds also look to our ECM team for expert advice regarding exit strategies for their investments across those sectors.

We anticipate that in 2011 the equity capital market will have continued momentum for at least the first six to nine months. Recent trends have shown that “hot monies” have begun moving from Asia to the US and Europe due to differences in valuations. Despite these trends, the HKEx still has the largest number of IPOs for PRC enterprises. With the increasing inflow of foreign non-PRC listing candidates tapping into the capital markets in Hong Kong, we should continue to see a steady flow of ECM work.

Recent deals include advising:

  • Mongolian Mining Corporation on its HKD 5.05bn listing on the HKEx - this IPO is the biggest on record by a Mongolian owned company and Mongolian Mining Corporation is the first mining company to be exempted from the strict business record requirements under the new Chapter 18 of the Listing Rules which came into effect on 3 June 2010
  • China Merchants Securities (HK) Co. Limited, the sole sponsor and bookrunner in the listing of Telefield International Holdings Limited (Telefield) on the Main Board of the HKEx 
  • CITIC Securities Corporate Finance (HK) Limited as the sponsor, global coordinator, bookrunner and as one of the joint lead managers on the HKD 919m global offering of PAX Global Technology Limited (“PAX Global”), a leading electronic fund transfer point-of-sale (EFT-POS) terminal solutions provider in China.  This global offering is a spin-off from Hi Sun Technology (China) Limited whose shares are listed on Main Board of the HKEx
  • Seven Group Holdings Limited on its USD 250m cornerstone investment in the IPO of Agricultural Bank of China Limited - China's largest retail bank
  • Newtree Group in a global offering raising approximately HKD 285.6m Asian Citrus, listed on AIM, of its listing by way of introduction on the HKEx.