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Retailer makes first entry to Hong Kong
The first IPO on the HKEX in the second quarter of this year
Date:
May 2008
Keywords (click to search): [IPO] [Hong Kong Exchange]
Maoye International has raised HK$2.7 billion (US$343 million) in a Hong Kong initial public offering, the first company to list on the Main Board of the Hong Kong Exchange in the second quarter of this year.
With 15 stores in eight cities in China, the Chinese retailer sold 863 million shares at HK$3.1 per share. The shares were offered at a range between HK$2.9 and HK$3.8.
Maoye was advised by Morrison & Foerster on Hong Kong law and US law, and King & Wood on PRC law. The underwriters were advised by Commerce & Finance on PRC law. Herbert Smith advised Goldman Sachs, HSBC, UBS and JP Morgan as joint bookrunners and joint lead managers on the IPO and Rule 144A / Regulation S global offering of Maoye. The team was led by partners John Moore and Tom Chau, senior associates Jason Sung and Melody Chen, and associates Sarah Chow, Jennifer Shen and Carol Fan.