ALB Hong Kong Law Awards 2010 Real Estate Firm of the Year winner Mayer Brown JSM has advised Hang Lung Properties, a Hong Kong-listed company, in its US$1.42bn follow-on offering on the Hong Kong Stock Exchange.
The fund raising exercise, led by Mayer Brown JSM partner Jeckle Chiu, was reported to be the largest ever follow-on offering by a Hong Kong issuer and the largest follow-on offering by a real estate company in Asia ex-Japan.
The deal was launched after the company's share price finished at an all-time high last Thursday as global equity markets rallied on the back of the US Federal Reserve's announcement of more quantitative easing.
Goldman Sachs, was the sole placing agent advised by Herbert Smith.ALB
Mayer Brown JSM Real Estate deals (3rd quarter of 2010) | ||
Client | Deal | Value |
Phoenix Property Investors | The pre-sale of Gramercy residential/retail development | US$193m |
Phoenix Property Investors | Acquisition of Ha Heung Road residential buildings | US$25.8 |
Phoenix Property Investors | Acquisition of a residential development on Argyle street | US$38.8m |
Phoenix Property Investors | Sale of a Hong Kong property holding company | US$34.6m |
Capital Strategic Investment | Acquisition of a shopping arcade on Tsim Sha Tsui, Kowloon | US$54.2m |
Capital Strategic Investment | Acquisition of the JIA Boutique Hotel | US$70.6m |
