Paul Hastings represents China COSCO Holdings Company Limited in approx. US$1.2 billion Hong Kong IPO and global offering
Third largest IPO listing in Hong Kong this year
HONG KONG, June 30, 2005-- Paul, Hastings, Janofsky & Walker (Paul Hastings) has represented China COSCO Holdings Company Limited ("China COSCO") in its approx. US$1.2 billion IPO listing on the Hong Kong Stock Exchange (SEHK) and its global offering. The Hong Kong listing and the closing of the global offering took place on Thursday, 30 June 2005.
China COSCO is the seventh largest container shipping company in the world and the largest container shipping company in China. The company’s global offering comprises 2,244 million H shares including a Hong Kong Public Offer of 224.4 million initial H shares and a global initial offering of 2,019.6 million H shares.
In advance of the listing, Paul Hastings also advised COSCO Pacific Investment Holdings Limited, a member of the COSCO Group, in relation to a syndicated loan to finance its acquisition of COSCO Pacific Limited, a company listed on the Hong Kong Stock Exchange, from COSCO (Hong Kong) Group Limited. The acquisition was part of the consolidation of China COSCO’s global businesses, (comprising companies in Asia, Europe, Australasia and America), in preparation for the global offering and IPO in Hong Kong.
A team of Hong Kong and U.S. qualified corporate lawyers led by partners
Raymond Li commented: "We are delighted to have represented China COSCO in these two major transactions. As an international law firm with teams on the ground in China as well as Europe and the U.S., Paul Hastings is well positioned to advise on global securities offerings and related complex, cross-border transactions of this kind. We were able to help our client with the global consolidation of its businesses as well as the Hong Kong and international offerings which involved multiple jurisdictions and corporate lawyers from our Asia, U.S. and European offices.
Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a global law firm, representing Fortune 500 companies, with nearly 1000 lawyers located in 17 offices in Asia, Europe and the United States. In Greater China, Paul Hastings is among the largest international law firms with a broad range of practices and over 80 legal professionals in Hong Kong, Beijing and Shanghai qualified to practice law in Hong Kong, England & Wales and the United States.