Paul Hastings Advises J.P. Morgan as Depositary Bank on Fast Retailings HDR Listing

March 06, 2014

Marking the first secondary listing of HDRs by a Japanese company by way of introduction Hong Kong/Tokyo

(March 5, 2014) - Paul Hastings, a leading global law firm, announced today that the firm advised JPMorgan Chase Bank, N.A. as the depositary bank on Fast Retailing Co., Ltd.’s (“Fast Retailing”) secondary listing of Hong Kong depositary receipts (“HDRs”) on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”) by way of introduction. Morgan Stanley Asia Limited acted as the sole sponsor.

Fast Retailing is the largest Japanese clothing retailer in Asia Pacific that designs, manufactures and sells clothing under seven main brands: UNIQLO, Comptoir des Cotonniers, GU, Helmut Lang, J Brand, Princesse tam.tam and Theory. Fast Retailing’s stock will continue to have its primary listing on the first section of the Tokyo Stock Exchange, with the addition of the secondary listing of HDRs in Hong Kong.

Paul Hastings has advised J.P. Morgan on all HDR listings to date, notably Vale S.A. (first-ever HDR listing), SBI Holdings (first HDR listing and global offering by a Japanese company) and Coach Inc. (first U.S. incorporated company to list in Hong Kong).

The Paul Hastings team was led by capital markets partners Catherine Tsang and  Scott Saks, with support from partner Hajime Kanagawa, of counsel Keith Pisani and associate Samson Suen.

Paul Hastings is a leading global 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

Practice Areas

Securities and Capital Markets



Corporate, Litigation, Real Estate, Intellectual Property, Life Sciences, and Employment

Becca Hatton


Katy Foster


Miranda Ward

Submission Requests

Firmwide Inquiries

Elliott Frieder

Get In Touch With Us

Contact Us