Hong Kong, January 3, 2006 – Shearman & Sterling LLP has represented the
underwriters, led by Credit Suisse First Boston and Morgan Stanley, in
the US$455 million initial public offering and New York Stock Exchange
listing of the American depository shares, representing the ordinary
shares of Suntech Power Holdings Co., Ltd., a China-based solar energy
company. This offering was the only New York Stock Exchange listing of
China-based companies in 2005.
Suntech Power is the world’s tenth largest manufacturer of photovoltaic
solar cells and modules as measured by production output in 2004, and
the leading company in its field in China. Its products are used in
residential, commercial, industrial, and public utility applications,
for both on-grid electricity generation and off-grid use, such as
stand-alone lighting for street lamps, garden lamps, telecommunications
relay stations, and mobile phone networks.
The Shearman & Sterling team was led by Hong Kong capital markets
partner Leiming Chen who was supported by Menlo Park-based partner Larry
Crouch, New York counsel Charles Gittleman, and associates Damien
Grierson (New York ? Capital Markets), Steve Kim (Menlo Park ? Capital
Markets), Eileen O’Pray (Menlo Park – Tax), Russell Sacks (New York ?
Capital Markets), Megan Tang (Hong Kong ? Capital Markets), Vivian Wong
(Hong Kong ? Capital Markets) and Alan Yeung (Hong Kong ? Capital