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The Firm recently represented Shinhan Financial Group in connection with a US$1 billion rights offering of its shares. Shinhan Financial Group is one of the three largest financial institutions in Korea with principal operations in commercial banking, credit card services, securities brokerage and life insurance services. Shinhan's common shares are listed on the Korea Exchange and its American depositary shares are listed on the New York Stock Exchange. The transaction was reportedly the first rights offering by a major financial institution in Korea in nearly a decade since the Asian financial crisis.

The rights offering consisted of a domestic offering and an international private placement led by J.P.Morgan, UBS and BNP Paribas. The shares were offered for subscription by existing shareholders (including holders of ADSs) of Shinhan, and to the extent not so subscribed, to qualified investors in reliance upon Regulation S and Section 4(2) of the Securities Act of 1933. In the United States, the offering was limited to qualified institutional investors (as defined in Rule 144A of the Securities Exchange Act of 1934).

The Simpson Thacher team for the transaction included Jin Hyuk Park, Kristina Kang, Johneth C. Park, Yeon Jin Seong and Sarah Park (Corporate), Seojung Park (Tax) and Mark Lab (Blue Sky). Paralegals Lydia Yang and Jane Lee also provided valuable assistance.