Michael, who is the chief representative of Herbert Smith Beijing office, has broad experience in mergers and acquisitions, corporate and corporate finance work in Hong Kong and in Mainland China and in relation to international IPOs, including H-share, red-chip and B-share transactions. Michael’s ECM experience extends to acting for both investment banks and issuers. He was lead partner as Hong Kong counsel on the world's largest IPO. In M&A, he has extensive experience in acting for purchasers and investee companies in regional and PRC M&A transactions, including private equity and strategic investments.
Michael is a native English speaker and also speaks Mandarin (Putonghua) and Cantonese.
Michael's experience includes advising on:
Corporate / M&A
- BP on its US$580 million investment in H shares of Petro China and on its subsequent sale of these shares and separately BP’s sale of H shares in Sinopec by accelerated book-built offer, raising US$1.7 billion and US$742 million respectively
- CNOOC on a series of private equity investments raising US$460 million in total
- CNOOC on the acquisition of 24.5% participating interest in the Liuhua 11-1 Oilfield in the South China Sea for US$20 million from each of BP and Kerr-McGee (total of US$40 million for 49% interest in aggregate, US$20 million paid to each seller for 24.5%)
- HC International, a Hong Kong GEM-listed company, on the management buy-out of, and equity investment by Fidelity Greater China Ventures Fund, IDG Technology Venture Investments and LC Fund (Legend) in, its public search engine business in the PRC for approximately US$35 million
- Shanda Holdings on the equity subscription and purchase by Softbank in Shanda Holdings (US$33 million)
- Taizinai Group on loan & equity investment by Actis China Fund 2 LP, Actis Executive Co-Investment Plan LP, and equity investments by Goldman Sachs and Morgan Stanley totalling US$73 million
IPO
- Beijing Media on its listing on the Hong Kong Stock Exchange, raising over HK$1 billion (US$130 million). This was the first overseas listing of a PRC government-owned media company
- China Agri-Industries Holdings on its spin-off from COFCO International, a Hong Kong-listed company, and its HK$2.6 billion global offering comprising a Hong Kong IPO and international offering
- China Shenhua Energy, as lead partner, on its H Share listing on the Hong Kong Stock Exchange raising HK$23 billion (US$2.9 billion), the largest IPO worldwide in 2005 at the date of listing
- Industrial & Commercial Bank of China (ICBC) on its record-breaking US$21.9 billion flotation. The IPO was the world's largest to date. ICBC was also the first company to list simultaneously on the Shanghai and Hong Kong stock exchanges. The deal also sets a number of other records in Hong Kong, including the greatest number of applications from retail investors
- Merrill Lynch, Credit Suisse First Boston and Bank of China International on a dual listing by IPO of shares and ADSs of CNOOC on the Hong Kong and New York Stock Exchanges, raising US$1.4 billion
- Salomon Smith Barney as the sponsor and global co-ordinator on the listing of H shares of Great Wall Technology on the Hong Kong stock exchange by way of a new issue and international placing raising approximately US$166 million
- Zhejiang Southeast Electric Power on the largest-ever B-share listing on the Shanghai Stock Exchange and the first listing of GDRs of a PRC company on the London Stock Exchange, raising US$240 million