Legal DealFolio - Sun Art Retail Group IPO

Herbert Smith has advised The Hongkong and Shanghai Banking Corporation Limited, UBS AG Hong Kong Branch, Citigroup Global Markets Asia Limited, BNP Paribas Capital (Asia Pacific) Limited, China International Capital Corporation Hong Kong Securities Limited, Goldman Sachs (Asia) L.L.C., and Morgan Stanley Asia Limited, as joint bookrunners on the HK$8.2 billion (US$1.1 billion) IPO of Sun Art Retail Group Limited ("Sun Art") on the Main Board of the Hong Kong Stock Exchange and Rule 144A/Regulation S global offering. Sun Art is the largest hypermarket operator in China. The company operates 197 hypermarket complexes in China under brand names Auchan and RT-Mart. It also has 51 locations under development that are expected to start operating by next year. The company intends to use the net proceeds from the global offering to finance the planned hypermarket developments, repay debts, remodel existing stores, acquire ownership of the existing hypermarket properties, set up or remodel new distribution centers and upgrade information systems, as well as for working capital. The Hong Kong team was led by corporate partner Matt Emsley, senior associate Victor Pang and associate Vivien Ji. The US team was led by corporate partner John Moore, and associate Minchu Wang.

Deal Date:	24-08-2011	Practice Area:	Equity Capital Markets
Deal Title:	Sun Art Retail Group IPO	Industry:	General Retailers
Description:	Herbert Smith has advised The Hongkong and Shanghai Banking Corporation Limited, UBS AG Hong Kong Branch, Citigroup Global Markets Asia Limited, BNP Paribas Capital (Asia Pacific) Limited, China International Capital Corporation Hong Kong Securities Limited, Goldman Sachs (Asia) L.L.C., and Morgan Stanley Asia Limited, as joint bookrunners on the HK$8.2 billion (US$1.1 billion) IPO of Sun Art Retail Group Limited ("Sun Art") on the Main Board of the Hong Kong Stock Exchange and Rule 144A/Regulation S global offering. Sun Art is the largest hypermarket operator in China. The company operates 197 hypermarket complexes in China under brand names Auchan and RT-Mart. It also has 51 locations under development that are expected to start operating by next year. The company intends to use the net proceeds from the global offering to finance the planned hypermarket developments, repay debts, remodel existing stores, acquire ownership of the existing hypermarket properties, set up or remodel new distribution centers and upgrade information systems, as well as for working capital. The Hong Kong team was led by corporate partner Matt Emsley, senior associate Victor Pang and associate Vivien Ji. The US team was led by corporate partner John Moore, and associate Minchu Wang.
Financial Center:	Hong Kong	Value:	1000.01-5000.00
Advised Party:	Lead Managers	Law Firm	Herbert Smith Freehills
Issuer Jurisdiction-	China	Listing Jurisdiction-	Hong Kong
Classification:	Initial Public Offerings Hong Kong Stock Exchange	Lawyer	Matt Emsley

Practice Areas -

Equity Capital Markets Law Firms and Lawyers

Practice Areas - Equity Capital Markets Law Firms and Lawyers