The Firm represented FIT Hon Teng Limited (“Hon Teng”) in connection with its initial public offering in Hong Kong and Rule 144A/Regulation S offering of an aggregate of 990,060,000 shares (prior to any exercise of the over-allotment option), which raised approximately HK$2,673.2 million (US$342.7 million) in gross proceeds. The ordinary shares of Hon Teng are listed on the Hong Kong Stock Exchange. China International Capital Corporation (“CICC”), Credit Suisse and Merrill Lynch acted as joint sponsors. CICC, Credit Suisse, Merrill Lynch and UBS acted as joint global coordinators and joint bookrunners.
Hon Teng, a subsidiary of Hon Hai Precision Industry Co., Ltd., also known as Foxconn, is a market leader in the development and production of interconnect solutions and related products. Hon Teng’s market share ranked fourth globally and first in Greater China in terms of revenue in 2016.
The Simpson Thacher team for the transaction included Chris Lin, Christopher Wong, David Lee, Marjory Ding, Howie Farn, Carol Chan, Brian Mathes and Olivia Lin (Corporate); and William Smolinski (Tax).