SUMCO’s Secondary Offering Raises ¥66.9 Billion ($557 Million)
05.21.15
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The Tokyo office of the Firm recently represented SUMCO CORPORATION (“SUMCO”), Mitsubishi Materials Corporation (“MMC”) and Nippon Steel & Sumitomo Metal Corporation (“NSSMC” and, together with MMC, the “Selling Shareholders”) in connection with a follow-on offering of the common stock of SUMCO on the Tokyo Stock Exchange and a global offering to institutional investors pursuant to Rule 144A and Regulation S under the Securities Act. SUMCO sold 18,262,000 shares in the international offering, and the Selling Shareholders sold an aggregate of 18,262,000 shares in the international offering.
SUMCO is a leading supplier of silicon wafers, the principal material used in the manufacturing of semiconductor devices. According to publicly available information, SUMCO was the largest manufacturer of silicon wafers by revenue worldwide in 2014.
The international joint lead managers for the international offering were SMBC Nikko Capital Markets Limited, Morgan Stanley & Co. International plc, Goldman Sachs International and Merrill Lynch International.
The Simpson Thacher team for the transaction included Takahiro Saito and Nirav Mehta (Capital Markets – Tokyo); and Jon Cantor and Jacqueline Barbera (Tax – New York).