Firm Represents China Nepstar in its NYSE IPO
11.20.07
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The Hong Kong office of the Firm represented China Nepstar Chain Drugstore Ltd., the largest retail drugstore chain in China based on the number of directly operated stores, in connection with its initial public offering and listing on the New York Stock Exchange of 23,718,750 American Depositary Shares, including the full exercise of the over-allotment option, raising a total of US$384 million. Goldman Sachs invested in China Nepstar in 2004 and remains a substantial shareholder, holding approximately 24.2% of China Nepstar's outstanding share capital post the IPO. The underwriters for the offering were led by the joint bookrunners Goldman Sachs and Merrill Lynch.
The Simpson Thacher team for the transaction included Leiming Chen, Shuang Zhao, Yilong Du, I-Sha Liu (Corporate), Ben Applestein and Seojung Park (Tax).