Hong Kong, (July 9, 2009) Paul, Hastings, Janofsky & Walker, a leading international law firm, announced today that it has recently advised in respect of three top-up placement transactions in Hong Kong.
In the first transaction, Paul Hastings advised Poly (Hong Kong) Investments Limited, a PRC real estate developer listed on the Hong Kong Stock Exchange, on its HK$794 million (approximately US$102 million) top-up placement. Citigroup Global Markets Asia Limited and BOCI Asia Limited were the joint book runners.
This was followed by the HK$618 million (approximately US$79 million) top-up placement by Xinyu Hengdeli Holdings Limited, a watch retailer and distributor in the Greater China region listed on the Hong Kong Stock Exchange. In this transaction, Paul Hastings advised the issuer. JPMorgan and Guotai Junan were the joint book runners.
Finally, the firm advised Morgan Stanley and Credit Suisse as the joint book runners in the HK$ 1.5 billion (Approximately US$196 million) top-up placement by KWG Property Holding Limited, a PRC real estate developer listed on the Hong Kong Stock Exchange.
We are delighted to have advised our clients on this series of transactions, said Sammy Li, a partner in the Paul Hastings capital markets practice in Hong Kong. Our capital markets practice in Hong Kong has recently seen a significant increase in the number of active and completed transactions, which we see as a positive trend for our clients and the broader market in Hong Kong and Asia.
Hong Kong capital markets partner Sammy Li and U.S. capital markets partners Neil Torpey and David Grimm led the Paul Hastings teams on the transactions, assisted by associates Vicky Ko, Vanessa Chan and Chloe Wang.Paul, Hastings, Janofsky & Walker is a leading international law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.