Simpson Thacher recently represented the international managers in connection with the global offering of ¥83.3 billion (approximately US $622 million) in shares of Rakuten Bank, Ltd., including an offering to institutional investors outside Japan pursuant to Rule 144A and Regulation S under the Securities Act. The shares in the international offering were existing shares sold by the parent company, Rakuten Group, Inc., as the sole selling shareholder.
Rakuten Bank, Ltd. is a leading internet bank in Japan offering digital banking services to consumers throughout Japan.
The international joint lead managers for the international offering were Morgan Stanley & Co. International plc, Daiwa Capital Markets Europe Limited, Goldman Sachs International, Mizuho International plc, Merrill Lynch International, SMBC Nikko Capital Markets Limited and Citigroup Global Markets Limited.
The Simpson Thacher team included Taki Saito and Xochitl Romo (Capital Markets); and Jonathan Cantor and Scott Grundei (Tax).