08 Aug 2017
Placement of shares in Asia Fashion Holdings Limited
Partners Danny Lim and Penelope Loh from the Capital Markets/Mergers & Acquisitions practice are acting as Singapore counsel to Freeman Securities Limited, being overseas placement agent to Asia Fashion Holdings Limited, which is listed on the Main Board of the Singapore Exchange (“SGX-ST”), in its HK$130.5 million placement of shares at the issue price of HK$0.90 per placement share.
27 Jul 2017
Issuance by China Jinjiang Environment Holding Company Limited of US$200 million in aggregate principal amount of 6.0% senior notes due 2020
Partners Chia Kim Huat, Lee Xin Mei, Hoon Chi Tern, Chor Zhi Chao and Associates Farrica Koh and James Chan acted for China Jinjiang Environment Holding Company Limited (“Jinjiang Environment”) in the issuance of US$200 million 6.0% senior notes due 2020, which are listed and quoted on the Singapore Exchange Securities Trading Limited (the “SGX-ST”).
Jinjiang Environment’s issuance of senior notes is the debut issuance by the PRC waste-to-energy (“WTE”) industry in the international debt capital markets, and is also the first time a PRC WTE operator has been assigned an international credit rating. Jinjiang Environment's debut issuance of the Notes marks a milestone for the SGX-listed Jinjiang Environment, together with its subsidiaries (“Group”) as it is an entry point into the international capital markets and a springboard for overseas expansion.
Established in 1998, Jinjiang Environment (中国锦江环境控股有限公司) is the first private WTE operator in the PRC and continues to be the leading WTE operator in the PRC with the largest waste treatment capacity in operation. The Group’s business primarily focuses on the planning, development, construction, operation and management of WTE facilities in the PRC, and has established a presence in India.
19 Jul 2017
Aztech Group Ltd. - Selective capital reduction
Partners Danny Lim, Penelope Loh and Associate Ng Su Rong from the Capital Markets/Mergers & Acquisitions practice are advising Aztech Group Ltd. (“Group”) in its selective capital reduction exercise to enable minority shareholders to realise the value of their shares, subsequent to the delisting of the company from the Main Board of the Singapore Exchange Securities Trading Limited (“SGX-ST”) on 21 February 2017. Based on the cancellation price of S$0.42 per share, the Group is valued at approximately S$21.42 million.
14 Jul 2017
Proposed acquisition of Global Logistics Properties Limited
Partners Lawrence Tan, Favian Tan and Associate Alina Tan are acting for GIC Private Limited (“GIC”), which is the single largest shareholder of Global Logistic Properties Limited (“GLP”), in the proposed acquisition of all the issued ordinary shares in the capital of GLP by Nesta Investment Holdings Limited by way of a scheme of arrangement ("Scheme") in accordance with Section 210 of the Companies Act, Chapter 50 of Singapore and the Singapore Code on Take-overs and Mergers. Based on the Scheme consideration of S$3.38 per GLP share, the Scheme values GLP at approximately S$16 billion. It is reported that the proposed takeover of GLP (if completed) will be the largest-ever private equity buyout of an Asian company.