14 June 2005, Hong Kong – LAWFUEL – The Law News Network – Shea…

14 June 2005, Hong Kong – LAWFUEL – The Law News Network – Shearman & Sterling’s Hong Kong office represented represented Merrill Lynch International, J.P. Morgan Securities
Inc. and Citigroup Global Markets Limited as lead underwriters in
connection with the US$322.5 million U.S. registered secondary offering of American depositary shares of Satyam Computer Services Limited. This was one of the largest ADR offerings ever completed out of India.

As part of the transaction, all shareholders of Satyam were invited to participate in the offering by delivering their shares into escrow to be sold as the securities underlying the ADSs. In this “Indian Invitation to Participate”, more than 800 shareholders delivered more than 50 million shares, 30 million of which were sold in what was India’s third-ever secondary ADR offering.

Satyam is a global provider of information technology services and solutions, including application development and maintenance services,
consulting and enterprise business solutions, extended engineering
solutions, infrastructure management services and business process
outsourcing, or BPO.

The deal was led by the firm’s Asian capital markets head, Matthew Bersani, who was assisted by associate Blake Dunlap and legal assistant Aaron Huang.

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