Allen & Gledhill has acted as transaction counsel to Novo Tellus Alpha Acquisition (NTAA) and its sponsor Novo Tellus PE Fund 2 on NTAA’s IPO and listing in Singapore. NTAA is a special purpose acquisition company incorporated to enter into a business combination. Novo Tellus Fund 2 is a private equity fund managed by Novo Tellus Capital Partners. Partners Tan Tze Gay, Jonathan Lee and Victoria Leong led the firm’s team in the transaction. AZB & Partners has advised Waterfield Advisors on the acquisition by marquee single-family offices, ultra-high net worth individuals and existing investors of equity stake, via Series B funding round, in Waterfield Advisors. Partners Bahram Vakil and Bhuvana Veeraragavan led the firm’s team in the transaction, which was completed on February 03, 2022. AZB & Partners has also advised Filter Capital (Mauritius), via Filter Capital Fund I, on its acquisition, along with other investors, of equity stake, via Series C equity funding round, in Loadshare Networks, a provider of a technology platform for transportation and logistics management services, and technology-enabled logistics distribution services. Partner Nanditha Gopal led the firm’s team in the transaction, which was valued at Rs3.1 billion (US$41m) and was completed on February 04, 2022. Clifford Chance has advised Huitongda Network on its US$284 million IPO and listing in Hong Kong. Founded in late 2010, Nanjing-based Huitongda is a fast-growing commerce and service platform dedicated to serving business customers in China’s retail market. The company provides a comprehensive suite of supply chain services across an extensive network covering 21 provinces and over 20,000 townships throughout China. The joint sponsors on the deal are CICC,...

Allen & Gledhill has advised Group One Holdings, parent company of Asia’s largest global sports media platform, ONE Championship, on the US$150 million raised through an equity financing round, led by global investors Guggenheim Investments and Qatar Investment Authority. Partner Song Su-Min led the firm’s team in the transaction. Allen & Gledhill has advised Housing and Development Board on the issue of S$950 million (US$707m) fixed rate notes due 2029, under its S$32 billion (US$24b) multicurrency medium term note program. Partners Margaret Chin, Fabian Tan and Sunit Chhabra led the firm’s team in the transaction. AZB & Partners has advised Internet Fund V, a fund managed by Tiger Global Management, and DF International Partners V and DF International Partners II, both funds managed by Dragoneer Investment Group, on their acquisition, along with other investors, of stake via Series D equity funding round in wealth management solutions provider Finzoom Investment Advisors. Partners Ashwath Rau, Srinath Dasari and Nanditha Gopal led the firm’s team in the transaction, which was valued at approximately Rs5.6 billion (US$74.6m) and was completed on January 28, 2022. AZB & Partners is also advising Filter Capital (Mauritius), via Filter Capital Fund I, on its acquisition, along with other investors, of equity stake, via Series C equity funding round, in Loadshare Networks, a provider of a technology platform for transportation and logistics management services and technology-enabled logistics distribution services. Partner Nanditha Gopal is leading the firm’s team in the transaction, which was valued at approximately Rs3.1 billion (US$41m) and is yet to be completed. Baker McKenzie has acted for CLSA, AMTD Global Markets, China International Capital Corporation Hong...

Allen & Gledhill has acted as transaction counsel to Chip Eng Seng, SingHaiyi Group and Chuan Holdings, as the borrowers, on the S$387.2 million (US$288m) term and revolving loan facilities to be granted to their joint venture companies, Maxwell Residential and Maxwell Commercial. The facilities were applied towards financing, among others, the en bloc acquisition of the properties located at 20 Maxwell Road (known as Maxwell House), and the construction costs on the development and construction of a mixed residential and commercial development on the property. Partner Aloysius Ng led the firm’s team in the transaction. Allen & Gledhill has also advised Kiri Industries on valuation proceedings arising from an earlier buy-out order that was made, following the firm’s successful representation of Kiri for its minority oppression claim against the majority shareholder and the joint venture company before the Singapore International Commercial Court (SICC) and the Court of Appeal (CA). On December 8, 2021, the SICC rendered its decision on costs on a long-running litigation between Kiri and Senda International Capital, wherein Senda was held to have oppressed Kiri as a shareholder in the parties’ joint venture vehicle, DyStar Global Holdings (Singapore), and ordered to buy out Kiri’s shares in DyStar at US$481.6 million. In a 49-page judgment setting a new benchmark for principles relating to costs in SICC proceedings, the SICC awarded costs of S$4.96 million (US$3.7m) and disbursements of S$3.1 million (US$2.3m) to Kiri, totaling approximately S$8.1 million (US$6m), with interest of 5.33 percent per annum calculated from the date of the judgment. The dispute has generated 13 reported decisions from the Singapore courts, with eight coming...

Allen & Gledhill has advised Singapore Airlines on the issue of US$600 million 3.375 percent notes due 2029, under its S$10 billion (US$7.4b) multicurrency medium term note programme. Partners Margaret Chin, Fabian Tan and Sunit Chhabra led the firm’s team in the transaction. Allen & Gledhill has also acted as transaction counsel to Citigroup Global Markets Singapore, UBS AG Singapore Branch, Oversea-Chinese Banking Corporation, China International Capital Corporation (Singapore) and UOB Kay Hian on the IPO and listing of Pegasus Asia in Singapore. Citigroup and UBS were appointed joint issue managers and global coordinators, and joint book-runners and underwriters. OCBC was appointed joint global coordinator, book-runner and underwriter, while CICC and UOB Kay Hian were appointed joint book-runners and underwriters. Pegasus Asia is a special purpose acquisition company incorporated to enter into a business combination. Tikehau Capital SCA, through a subsidiary Bellerophon Financial Sponsor 3 SAS; Financière Agache SA, through a subsidiary Poseidon Asia Financial Sponsor SAS; Diego De Giorgi and Jean Pierre Mustier are the sponsors of Pegasus Asia. Partners Tan Tze Gay led the firm’s team in the transaction. AZB & Partners has advised Coinbase Ventures, through Coinbase Global, on its Rs158 million (US$2.1m) acquisition, along with other investors, of equity stake in Ippopay Technologies. Partners Ravi Bhasin, Rohan Bagai and Aprajita Rana led the firm’s team in the transaction, which was completed on January 11, 2022. AZB & Partners has also advised Reliance Industries on its Rs11 billion (US$227m) acquisition, along with other investors, of stake in Dunzo Digital, such that Reliance will own 25.8 percent stake in Dunzo after the transaction. Partners Ashwath Rau, Jasmin Karkhanis, Nandan...