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Deacons 

December, 2013 - Hong Kong, Hong Kong

 

Deacons Advises on the Spin-Off and HK$2.2 Billion Main Board IPO of Kerry Logistics Network Limited

 

Deacons advises the joint sponsors and underwriters on the spin-off and Main Board IPO of Kerry Logistics Network Limited, which is expected to raise up to approximately HK$2.2 billion (subject to the exercise of over-allotment option).

Kerry Logistics Network is currently a wholly-owned subsidiary of Kerry Properties Limited (HKSE Stock Code: 683). Kerry Logistics Network is principally engaged in the integrated logistics and international freight forwarding businesses, and currently has more than 400 service locations in 35 countries and territories across Asia, Australia, Europe, and North and South America. It is a leading logistics service provider in Asia, in terms of revenue and gross floor area of warehouse managed, with extensive operations across Greater China and other countries in the region, as well as the largest Hong Kong-based international third-party logistics service provider.

The joint sponsors are BOCI Asia Limited (BOCI), Citigroup Global Markets Asia Limited (Citi), HSBC Corporate Finance (Hong Kong) Limited and Morgan Stanley Asia Limited (Morgan Stanley). The joint global coordinators, joint lead managers and joint bookrunnders include BOCI, Citi, The Hongkong and Shanghai Banking Corporation Limited and Morgan Stanley. CIMB Securities Limited is also one of the joint bookrunners. DBS Asia Capital Limited and Mizuho Securities Asia Limited are also joint lead managers.

Kerry Logistics Network is expected to be listed on the Main Board of the Hong Kong Stock Exchange on 19 December 2013.

Deacons advises the joint sponsors and underwriters as to Hong Kong law, and the team is led by Rhoda Yung (Partner), Ronny Chow (Partner) and Simon Lai (Consultant). Freshfields Bruckhaus Deringer advises the underwriters as to US law. Davis Polk & Wardwell advises Kerry Logistics Network as to Hong Kong and US laws.

Deacons

Deacons is Hong Kong premier law firm and provides an extensive range of legal and commercial services to local and international businesses. With roots beginning in 1851, Deacons has built a worldwide reputation by providing high level, quality legal advice to companies conducting business in Hong Kong. With more than 20 practice areas and three representative offices in Mainland China, Deacons is the largest, full-service local law firm with 54 partners, 250 lawyers and lawyer equivalents and approximately 630 employees overall.

Deacons' Corporate Finance Group

Deacons' CFPG ranks number one in terms of advising on the most number of announced IPO deals in 2013 to date (a total of 11 announced Hong Kong IPO deals). We have substantial experience in advising both the sponsors and listing applicants in various (and some highly regulated) industries in Hong Kong and elsewhere, including the manufacturing, food and beverages, retail, property, banking, securities, insurance, transport, healthcare, logistics, energy and infrastructure sectors.

Our group comprises over 45 fee-earners and has extensive experience in all types of corporate finance, capital markets, structured products and regulatory work, ranging from initial public offerings on the Main Board and the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited, secondary issues, takeovers, private equity, mergers and acquisitions, corporate restructurings, debt financing, bond issues (including sovereign bonds), to local and cross border joint venture and other transactions.


 

WSG's members are independent firms and are not affiliated in the joint practice of professional services. Each member exercises its own individual judgments on all client matters.

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