Morrison & Foerster represented BNP Paribas and ABN AMRO, joint book runners and lead managers, in the US$238 million (HK$1.86 billion) initial public offering of Asia Cement (China) Holdings Corporation (Stock Code: 0743) on the Main Board of the Stock Exchange of Hong Kong.  Asia Cement (China) is one of the leading integrated cement producers in the Central Yangtze River Region and a major integrated cement producer in the Sichuan Region.

Asia Cement shares jumped 38% percent in its trading debut, demonstrating the sharpest rise in shares among all initial public offerings completed within the past 3 months.  Trading closed on May 20, 2008 at HK$6.83 per share.  This initial public offering is regarded by Reuters as, “the strongest showing by a Hong Kong market newcomer in what has been a lackluster year for initial public offerings.”

The Morrison & Foerster team was led by Hong Kong partners, Ven Tan and Paul Boltz.