Hong Kong – LawFuel.com – Orrick, Herrington & Sutcliffe LLP (Orrick) has advised China Forestry Holdings Co., Ltd. (China Forestry) in its HK$1.55 billion (US$203 million) initial public offering on the Main Board of the Hong Kong Stock Exchange with a Rule 144A/Regulation S placement to global investors. The listing took place on December 3, 2009. Cazenove Asia Limited (to be renamed Standard Chartered Securities (Hong Kong) Limited on 14 December 2009) and UBS Investment Bank are the joint global co-ordinators, sponsors, bookrunners and lead managers.
Invested by the Carlyle Group and the private equity firm Partners Group, China Forestry is one of the three largest, privately-held, naturally regenerated and plantation forest operators in China in terms of coverage area of owned forest rights. China Forestry’s plantation forests, which are located in Sichuan and Yunnan, are managed with the aim of supplying sustainably-harvested logs to manufacturers in the construction, furniture, interior decoration, wood product and paper industries in China.
A team of Hong Kong capital markets lawyers from Orrick’s Hong Kong and Shanghai offices, led by partners Edwin Luk and Mark Lee, advised on the global offering.
Edwin Luk, Orrick’s Asia Corporate Group leader and partner commented: “We are pleased to have successfully represented China Forestry in its global offering, which is one of the largest public offerings in Hong Kong this year. ”
He added: “Orrick has recently expanded our China capital markets team with an additional partner and a team of associates which extend our depth and execution capabilities in representing both issuers and underwriters in securities offerings and corporate finance transactions in China and Hong Kong, as well as New York and London.”