• Hang Lung's US$1.42 billion top-up placing
Herbert Smith has advised Goldman Sachs Asia (Asia) L.L.C., as placing agent, on the sale of 294 million shares of Hang Lung Properties Limited (HLP) held by its controlling shareholder, Hang Lung Group Limited (HLG), for HK$11.01 billion (US$1.42 billion).
The 294 million shares were sold under a top-up placement, with the final price fixed at HK$37.48 per share.
Founded in 1949, HLP is a top-tier property developer in Hong Kong and on the Mainland. Its Hong Kong listed parent company, HLG, has 50 years of experience in the property development market.
Herbert Smith's Hong Kong corporate team advised on both the Hong Kong and US law aspects of the transaction. Corporate partners Matt Emsley and John Moore led the team, assisted by senior associates Melody Chen and Victor Ding and associate Bosco Yiu.
• Sino Land's US$663 million top-up placement
Herbert Smith has advised Goldman Sachs Asia (Asia) L.L.C., as placing agent, on the top-up placing of 305 million shares of Sino Land Company Limited at HK$16.85 per share. Sino Land raised approximately HK$5.14 billion (US$663 million) in the placing.
Listed on the Hong Kong Stock Exchange in 1981, Sino Land is a member of the Sino Group and one of the leading property development companies in Hong Kong.
Herbert Smith's Hong Kong corporate team advised on both the Hong Kong and US law aspects of the transaction. Corporate partners Matt Emsley and John Moore led the team, assisted by senior associates Melody Chen, Jason Sung and Hsiang Ming Foo and associate Vicky Cheung.
John Moore commented:
"We are delighted that we have been able to work with one of our most significant investment banking clients on these successful transactions. These deals exemplify our position as the leading equity capital markets practice in the region."
Notes to editors
1. Herbert Smith LLP is an international legal practice with 1400 lawyers (including over 250 partners) and a network of offices in Europe, the Middle East and Asia. It has a formal alliance with leading German firm Gleiss Lutz and leading Dutch and Belgian firm Stibbe.www.herbertsmith.com
2. Herbert Smith operates a leading Asian capital markets practice from our well-established presence in Bangkok, Beijing, Hong Kong, Jakarta (in association with HBT), Shanghai, Singapore and Tokyo. We are retained by major issuers and investment banks as advisers on high profile equity and debt offerings across Asia. Recent placement deals which we advised on include:
- Goldman Sachs as placing agent on the HK$3.25 billion (US$418 million) sale of 187 million shares (of which 130 million shares were sold under a top-up placement arrangement) of China High Speed Transmission Equipment Group held by Fortune Apex, a company owned by members of the company's management. China High Speed is a Hong Kong-listed company and one of the leading high-speed wind power gear transmission equipment manufacturers in China
- Banpu, Thailand's largest coal miner, on the US, UK, Singapore and Indonesian law aspects of the sale of a 8.7% stake, with the value of US$400 million, in its listed Indonesian subsidiary, PT Indo Tambangraya Megah Tbk (ITMG). Goldman Sachs was the placing agent
- BOCI Asia, Citigroup Global Markets Asia and Standard Chartered Securities (Hong Kong), as the joint placing agents, on a HK$3.52 billion (US$457 million) top-up placement of 400 million shares at a price of HK$8.8 per share for Poly (Hong Kong) Investments, a Hong Kong listed PRC property developer that mainly engages in property development, investment and management
- Citigroup as sole placing agent on the HK$964 million top-up placing of Xingda International, a PRC automobile tire manufacturer
3. For further information please contact Eman Lam in the Asia Business Development team on +852 2101 4609 or eman.lam@herbertsmith.com
NOTICE
These materials are not an offer for sale of any securities of Hang Lung Group or Sino Group (the "Companies") in the United States or elsewhere. Any securities offered by the Companies in connection with the transactions described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. This press release shall also not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any sale of such securities in any country or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such country or jurisdiction.