Crystal Group Completes HK$3.82 Billion (US$490 Million) Hong Kong IPO and Rule 144A/Regulation S Offering
11.03.17
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The Firm represented Crystal International Group Limited (“Crystal Group”) in connection with its initial public offering in Hong Kong and Rule 144A/Regulation S offering of 509,300,000 shares (prior to the exercise of the overallotment option), which raised approximately HK$3.82 billion (US$490 million) in gross proceeds. The ordinary shares of Crystal Group are listed on the Hong Kong Stock Exchange. Morgan Stanley and HSBC acted as joint sponsors. Morgan Stanley, HSBC and Citi acted as joint global coordinators, joint bookrunners and joint lead managers.
Crystal Group is a global leader in the apparel manufacturing industry with a diversified product portfolio under a differentiated value-add driven co-creation business model. Founded in 1970, today Crystal Group has 20 self-operating manufacturing facilities with a total gross floor area of approximately 1.3 million square meters spanning across five countries, with a workforce of approximately 70,000, delivering around 350 million pieces of apparel a year primarily to globally leading apparel brands.
The Simpson Thacher team for the transaction included Christopher Wong, Marjory Ding and Cherrie Zhang (Capital Markets).