10 November 2010
8 November 2010, Hong Kong – Mayer Brown JSM, a leading global law firm, is pleased to announce that it acted for Hang Lung Properties Limited on its HK$11 billion equity fund raising exercise.
The fund raising was announced by Hang Lung Properties, a Hong Kong-listed company, on 5 November 2010 and was done by way of placing and top-up. It was reported to be the largest ever follow-on offering by a Hong Kong issuer and the largest follow-on offering by a real estate company in Asia ex-Japan.
The deal was launched after the company's share price finished at an all-time high last Thursday as global equity markets rallied on the back of the US Federal Reserve's announcement of more quantitative easing. Goldman Sachs (Asia) LLC was the sole placing agent.
The Mayer Brown JSM team was led by Corporate Finance partner Jeckle Chiu.