Morrison & Foerster Completes Successful Hong Kong IPOs for China Sunshine Paper and Pacific Online

12/21/2007

Press Release

HONG KONG, December 19, 2007 – Morrison & Foerster represented BNP Paribas and other underwriters as Hong Kong and U.S. counsel in the initial public offering of China Sunshine Paper (SEHK: 2002) and Pacific Online Ltd (SEHK: 0543), which commenced trading on December 12 and December 18, respectively.         

China Sunshine Paper, the largest white top linerboard producer in China, raised a total of US$76 million (HK$593 million) by selling 100,000,000 shares in the initial public offering.  Lead managers and underwriters were BNP Paribas Capital (Asia Pacific) Ltd. and BOC International Holdings Ltd.  The company plans to use the IPO proceeds for capacity expansion, research and development and to expand its network of recovered paper collection points.

Pacific Online Limited commenced trading on the Hong Kong Stock Exchange yesterday and raised a total of US$120 million (HK$940 million) through an offer and sale of 285,000,000 new and existing shares.  BNP Paribas Capital (Asia Pacific) Limited was the sole global coordinator and lead manager.  Pacific Online operates five well-known Internet portals including PConline, one of China’s largest IT product-related portals, and PCauto, China’s second largest automobile content portal.  

The deal teams for both IPOs were led by Hong Kong office managing partner, Ven Tan, and Hong Kong-based partner, Paul Boltz.

Email Disclaimer

Unsolicited e-mails and information sent to Morrison & Foerster will not be considered confidential, may be disclosed to others pursuant to our Privacy Policy, may not receive a response, and do not create an attorney-client relationship with Morrison & Foerster. If you are not already a client of Morrison & Foerster, do not include any confidential information in this message. Also, please note that our attorneys do not seek to practice law in any jurisdiction in which they are not properly authorized to do so.

©1996-2019 Morrison & Foerster LLP. All rights reserved.