DEALS & DEALMAKERS

ATA, a Chinese computer-based testing company, raised approximately US$46.3 million by pricing its American Depositary Shares [ADS] initial public offering on the NASDAQ Global Market. The ADS shares will trade on the NASDAQ under the symbol “ATAI.” The company provides computer-based testing services in China, as well as test-based educational programs services. O’Melveny & Myers advised on this deal, while Merrill Lynch acted as the sole bookrunner.

Chinese property developer Gemdale Corporation signed a joint venture agreement with UBS AG Hong Kong Branch to establish an offshore investment platform. The 50/50 product joint ventures of UBS and the Shanghai-listed developer will focus on residential developments in the PRC, with expected total capital commitments to be up to US$300 million. Allen & Overy advised on Hong Kong Law, while King & Wood advised on PRC Law.

French home appliance giant SEB International has acquired a controlling interest in Supor, and now owns 52.74% of the Shenzhenlisted cookware manufacturer. It is the first direct acquisition by a foreign company of a majority stake in an A-share listed company, the first partial tender offer on a Chinese Stock Exchange, as well as being the subject of the first anti-monopoly investigation conducted by the Ministry of Commerce of the PRC. The transaction was cleared in the first quarter of 2007 after several months of inquiry, including two hearings involving competitors, suppliers, clients and the opinion of the professional association of the sector. Gide Loyrette Nouel advised SEB International on this deal, while Chen & Co Law Firm advised Supor. Llinks Law Firm acted as PRC counsel regarding securities regulations for SEB.