Allen & Gledhill has advised the Housing and Development Board on the issue of S$900 million (US$671m) fixed rate notes due 2031, under its S$32 billion (US$24b) multicurrency medium term note programme. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction.
Allen & Gledhill has also advised United Overseas Bank, as the issue manager, on the secondary listing, via introduction, of PC Partner Group in Singapore. Founded in 1997 and listed in Hong Kong in 2012, PC Partner is a global leading manufacturer and distributor of electronic products, particularly graphic cards, motherboards and mini-PCs. Partners Rhys Goh and Kern Wong led the firm’s team in the transaction.
AZB & Partners is advising FIH Mauritius Investments on its Rs21.5 billion (US$253m) acquisition, via Fairfax, of equity stake of Bangalore International Airport from Siemens. Partners Darshika Kothari and Kritika Agarwal are leading the firm’s team in the transaction, which was signed on December 3, 2024 ad is yet to be completed.
AZB & Partners has also advised Willowbay Investment on its Rs9 billion (US$106m) sale of stake in Diliigent Power to the DB Group Entities and their promoters (part of Dainik Bhaskar Group). Partners Anil Kasturi, Niladri Maulik and Siddharth Khanna led the firm’s team in the transaction, which was completed on November 28, 2024.
Moreover, AZB & Partners is advising Intelligencenode Consulting and its subsidiary Intelligence Node on their Rs8.5 billion (US$100m) sale of stake to IPG Nederland, a part of the Interpublic Group. Partner Kunal Kumbhat is leading the firm’s team in the transaction, which was signed on December 3, 2024 and is yet to be completed.
Baker McKenzie has acted as Hong Kong counsel to the sole sponsor, joint overall coordinators and underwriters on the global offering and listing of Shanghai REFIRE Group in Hong Kong. The company’s H shares commence trading on December 6, 2024. REFIRE is a leading hydrogen technology company, with full-service capabilities covering the entire industrial chain in hydrogen industry. The company focuses on the design, development, manufacture and sales of hydrogen fuel cell systems, hydrogen production systems and related components, as well as on providing fuel cell engineering and technical services. Moreover, REFIRE has strategically positioned itself in the upstream hydrogen production equipment sector, possessing in-house research and development capabilities for proton-exchange membrane (or PEM) and alkaline (or ALK) electrolysis products, with industry-leading core technical indicators. Partners Wang Hang from Baker McKenzie and Han Bing from FenXun (Baker McKenzie’s joint operation platform partner in China), supported by FenXun partner Rachel Wang, led the two firms’ team in the transaction.
Clifford Chance has advised leading Chinese beauty company Mao Geping Cosmetics on its IPO and listing in Hong Kong. The IPO is expected to raise approximately US$300 million. Mao Geping Cosmetics was founded in 2000 by Mao Geping, one of China’s most famous celebrity makeup artists. The premium cosmetics company offers a range of makeup and skincare products, sold through department stores in China and e-commerce platforms. China practice chair Tim Wang and partners Jean Thio and Tianning Xiang led the firm’s team in the transaction.
Clifford Chance has also advised Adam Colley, Andrew Scott, Stephen Longley and Derrick Vickers of PricewaterhouseCoopers, as joint and several voluntary administrators, on the sale of PF Management Group and its subsidiaries (collectively, the Panthera Group) to Australian family-owned credit and legal agency Francom Group. The assets and employees of the Panthera Group, which is one of Australia’s largest private debt purchasing and collection groups, will continue to operate under the Francom Credit brand. The transaction makes Francom Group the third largest debt purchasing and collection agency in Australia. Partner Mark Gillgren, supported by partners David Clee, Nikki Smythe and Donna Wacker, led the firm’s team in the transaction.
Rajah & Tann Singapore has acted for PC Partner Group, a Hong Kong-listed company with a market capitalisation of over HK$1.7 billion (US$219m), on its successful secondary listing in Singapore. This transaction is one of two Singapore listings of 2024 to date. Partners Howard Cheam, Tan Mui Hui and Tricia Teo led the firm’s team in the transaction.
Rajah & Tann Singapore has also acted on the S$821 million (US$612m) collective sale of Concorde Hotel & Shopping Mall, a mixed-use development comprising a three-storey retail podium and 407-room hotel located in Orchard, Singapore. Senior partner Norman Ho and partner Gazalle Mok led the firm’s team in the transaction, which is the largest collective sale for 2024.
Shardul Amarchand Mangaldas & Co has advised Morgan Stanley India, as the sole book-running lead manager, on the qualified institutions placement by Zomato. Valued at approximately US$1 billion, the deal is the largest QIP in India in 2024, and marks a significant milestone as the first QIP by a new-age technology company in India. The transaction also underscores the growing role of technology companies in India’s capital markets, and their increasing ability to raise funds from institutional investors. Capital markets national practice head Prashant Gupta led the firm’s team in the transaction.
Skadden has advised Dmall, China’s largest retail digitalization solution provider, on its IPO and listing in Hong Kong, raising approximately HK$779 million (US$581m). China practice co-head Paloma Wang and partner Shu Du led the firm’s team in the transaction.
Trilegal has represented Mapletree, a global real estate development, investment, capital and property management company committed to sustainability headquartered in Singapore, on the acquisition of multiple land parcels aggregating to approximately 40 acres situated in Bangalore, Karnataka, from the land-owning entities forming part of the Adarsh Developers group. Real estate partner Monika Bhonsale, supported by partners Sai Krishna Bharathan and Joseph Jimmy, led the firm’s team in the transaction, which is one of the largest land deals across India.
TT&A has advised Nomura Financial Advisory and Securities (India), as a broker, on the secondary trades by Orange Clove Investments, True North Fund V and Aether (Mauritius) in certain shares, aggregating to Rs14.11 billion (US$166m), held by them in Home First Finance Company India. Partner Abhinav Kumar led the firm’s team in the transaction, while Duane Morris Selvam acted as international counsel.
