Paul Hastings advises Pixelplus on Nasdaq IPO

December 28, 2005

Paul, Hastings, Janofsky & Walker LLP (Paul Hastings) has advised Pixelplus Co. Ltd., a Korean fabless semiconductor company, in relation to its US$36 million initial public offering of American depository shares on Nasdaq. The offering was completed on December 27, 2005 Pixelplus, a company that was not previously listed on any stock exchange, designs and develops complementary metal oxide semiconductor (CMOS) image sensors for use primarily in mobile camera phones. It is raising capital to, among others things, expand its sales, distribution and technical support network and develop its research and development capabilities. Paul Hastings team of US-qualified Korean lawyers led by partner Jong Han Kim, with Daniel Kim, Young Suh and Joseph Suh, advised Pixelplus on the transaction. Jong Han Kim, partner and head of the Paul Hastings Korea practice, commented: We are very pleased to represent a Korean company of Pixelplus calibre in one of the rare direct U.S. listings on Nasdaq by a Korean private company. Paul Hastings Korean team has represented a number of major Korean companies in their international capital markets activities over the last few years, including a U.S. listing for Webzen and international listings for KCC and INI Steel, as well as cross-border joint ventures for major Korean companies such as SK Telecom and Samsung Life. This latest deal highlights our firms growing expertise in handling international capital markets transactions for Korean companies. Pixelplus offering brings the total amount raised in IPOs completed by Paul Hastings for Asian companies to US$2.3 billion for 2005, in a total of sixteen transactions. Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a global law firm with nearly 1,000 lawyers located in 17 offices in Asia, Europe and the United States. Paul Hastings has one of Asias largest international legal practices, with a team of over 130 lawyers located in Hong Kong, Beijing, Shanghai and Tokyo. The firm has won a number of awards for recent innovative transactions across the region, including Korea. The Webzen IPO won best mid cap IPO for 2004 by Asiamoney magazine. Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a global law firm with 1,000 lawyers located in 17 offices in Asia, Europe and the United States. Paul Hastings has one of Asias largest global legal practices, with a team of over 130 lawyers located in Hong Kong, Beijing, Shanghai and Tokyo.