Simpson Thacher Represented Underwriters in the HK$877.0 Million (US$113.2 Million) Hong Kong Initial Public Offering and Rule 144A/Regulation S Offering by KKR Portfolio Company China Rundong Auto Group Limited
08.22.14
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The Firm represented the underwriters of the initial public offering in Hong Kong and Rule 144A/Regulation S offering by KKR portfolio company China Rundong Auto Group Limited (China Rundong Auto). China Rundong Auto offered an aggregate of 268,619,000 ordinary shares, which raised approximately HK$877.0 million (US$113.2 million) in gross proceeds. The ordinary shares of China Rundong Auto are listed on the Hong Kong Stock Exchange. Morgan Stanley and Merrill Lynch acted as joint sponsors, jointed global coordinators, joint bookrunners and joint lead managers; CCB International Capital Limited and Haitong International Securities Company Limited acted as joint bookrunners and joint lead managers; and KKR Capital Markets LLC acted as a co-lead manager.
China Rundong Auto is one of the largest luxury automobile dealership groups in affluent coastal regions of Eastern China.
The Simpson Thacher team for the transaction included Chris Wong, Chris Lin, Felicia Lai, Martina To and Yu Wang (Corporate); and Taylor Alexander (Tax).