Firm Represents Belle International in its Hong Kong IPO
06.01.07
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The Hong Kong office of the Firm represented Belle International Holdings Limited ("Belle"), the largest retailer of ladies' footwear in China, in connection with its initial public offering in Hong Kong and Rule 144A/Reg. S offering of 1,605,659,000 ordinary shares, raising approximately HK$9.96 billion (approximately US$1.30 billion). Belle's ordinary shares are listed on the Hong Kong Stock Exchange. In total, the offering attracted US$127 billion of demand, with US$57 billion from retail investors, representing an oversubscription of 516 times for the Hong Kong retail tranche, a record level of demand for any Hong Kong IPO to date. The joint bookrunners for the offering were Morgan Stanley and Credit Suisse.
The Simpson Thacher team for the transaction included Leiming Chen, Shuang Zhao and David Lee (Corporate - Hong Kong) and Benjamin Applestein and Seojung Park (Tax).