Press Release

Morrison & Foerster Advises Underwriter on £28 Million Placing and Open Offer for Cathay International


London 19 November 2009 – Lawyers from the London office of Morrison & Foerster are advising on a Placing and Open Offer for Cathay International Holdings Ltd. 

Cathay International is a company investing primarily in the growing pharmaceutical and healthcare sectors in the People's Republic of China.  Cathay International is a Bermudan company listed on the London Stock Exchange Official List.

Morrison & Foerster is advising Piper Jaffray as Sponsor, Broker and Underwriter to Cathay International.  The Morrison & Foerster team is led by partner Natalie Diep and includes corporate associates Matthew Edwards and Katie Mok. 

Natalie Diep commented “We are delighted to advise on this successful transaction.  It is a deal that plays to our strengths given our strong global healthcare and life sciences focus and our thriving China Practice.”

The Placing and Open Offer is comprised of 101,632,670 New Common Shares at a price of 27.5 pence per share to raise approximately £27.9 million (£26.8 million net of expenses).  The Placing was oversubscribed, with strong support from a number of new institutional investors.





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