Press Release

Morrison & Foerster Represents Underwriters in US$435 Million Hong Kong IPO

10/23/2008

HONG KONG, October 23, 2008 – Morrison & Foerster is pleased to announce the successful initial public offering and listing of Renhe Commercial Holdings Company Limited on the Hong Kong Stock Exchange.  The firm served as the Hong Kong legal counsel to the underwriters and the joint sponsors BOCI Asia Ltd., The Hongkong and Shanghai Banking Corporation Limited, Morgan Stanley Asia Limited, and UBS AG.  Renhe Commercial Holdings, one of the largest underground shopping center developers in China, is the first company to list in Hong Kong since mid-August.  The offering raised US$435 million, which the company plans to use to fund expansion projects in China. 

“The completion of this deal is a true testament to the determination and perseverance of all the parties involved in this listing.  With extreme market volatility as we approached the launch of the offering, it took extraordinary energy and tremendous efforts of all concerned to complete this offering.  I am extremely happy that the Morrison & Foerster team was able to draw upon our legal acumen and extensive Hong Kong capital markets experience to assist the underwriters and the company to complete the deal despite these difficult conditions,” notes Tien-yo Chao, Morrison & Foerster’s lead partner for the transaction. 

Close

Feedback

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.