Equity Capital Markets


Some examples of transaction sizes of the Initial Public Offering:

We acted as solicitors for Xingquan International Sports Holdings Limited (“Xingquan”) in a proposed initial public offering and a proposed listing of Xingquan, a Bermuda incorporated company, and quotation of its entire issued and paid-up share capital of USD30,733,000 comprising 307,330,000 ordinary shares of USD0.10 each on the Main Board of Bursa Malaysia Securities Berhad which group of companies is principally engaged (in the People’s Republic of China) in designing, developing and manufacturing of shoe soles and shoes and sales of shoes, apparels and accessories


We acted as solicitors for Multi Sports Holdings Ltd in a its initial public offering and the listing and the quotation of its entire issued and paid-up share capital of USD18,000,000 comprising 360,000,000 ordinary shares of USD0.05 each on the Main Board of Bursa Malaysia Securities Berhad.


We acted as solicitors for Masterskill Education Group Berhad (“MEGB”), a major educational group in Malaysia specializing in education for the nursing and allied health industry, in the initial public offering (“IPO”) in connection with its listing on the Main Market of Bursa Malaysia Securities Berhad. The prospectus for MEGB was issued on 26 April 2010 and MEGB was listed on 18 May 2010. Masterskill’s initial public offering raised RM771 million, making it Malaysia’s largest and the second largest in South-East Asia so far this year. Based on the institutional price of RM3.80 per share, Masterskill’s market capitalisation is approximately RM1.6billion which makes it the largest publicly-listed education services provider in Malaysia by market capitalization.


We acted as the solicitors for the listing of Benalec Holdings Berhad on the Main Market of Bursa Malaysia Securities Berhad. It was the first marine construction company to be listed on the Main Market of Bursa Malaysia Securities Berhad. The market capitalisation was RM730,000,000 on listing.


We acted as solicitors for QuanZhou Fensun Automobile Parts Co. Ltd. in the initial public offering and a proposed listing of QuanZhou Fensun Automobile Parts Co. Ltd. of up to 150,000,000 ordinary shares of US$0.10 each on the Main Market of Bursa Securities Malaysia Berhad which group of companies is principally engaged (in the People’s Republic of China) in automobile components.


We acted as solicitors for 7-Eleven Malaysia Holdings Berhad (“7-Eleven Malaysia Holdings”) (formerly known as Seven Convenience Berhad) in a proposed initial public offering of up to 530,325,000 ordinary shares of RM0.10 each in 7-Eleven Malaysia Holdings in conjunction with the proposed listing of and quotation for the entire enlarged issued and paid-up share capital of 7-Eleven Malaysia Holdings on the Main Market of Bursa Malaysia Securities Berhad.


We acted as solicitors for Berjaya Corporation Berhad on the renounceable rights issue of up to RM764,240,189 nominal value of 10-year 5% irredeemable convertible unsecured loan stocks (‘New ICULS’) at 100% of its nominal value of New ICULS and one (1) Warrant for every six (6) existing ordinary shares of RM1.00 each held in Berjaya Corporation Berhad (including a Regulation S Offering).


We acted as solicitors for Asia Pacific Land Berhad (a company listed on the Main Market of Bursa Malaysia Securities Berhad) in the sale of their entire assets and undertaking to Low Yat (M) Holdings Sdn Bhd for a sale consideration of RM305,218,080.90 in a privatisation exercise by their substantial shareholders.


We acted as Malaysian solicitors for BCorp in the privatisation of Cosway Corporation Limited (CCL), a company listed on the Hong Kong Stock Exchange Limited (‘HKSE’) for a total offer price of HKD3,492,636,150.60. It involves delisting of CCL from HKSE to facilitate business integration between BCorp and CCL, which will provide BCorp Group with greater flexibility to support the future business development of CCL without being subjected to regulatory restrictions and compliance obligations associated with the listing status of CCL on HKSE. It is also the first instance of delisting of ICULS from the HKSE.


We act as solicitors for 7-Eleven Holdings Malaysia Berhad for the proposed renounceable rights issue of up to 616,692,500 new warrants (“Warrants”) at an issue price of RM0.10 for each Warrant on the basis of One (1) Warrant for every Two (2) existing ordinary shares in 7-Eleven Malaysia Holdings Berhad (“SEM”) held on an entitlement date to be determined later (“Proposed Rights Issue”)


We act as solicitors for Iskandar Waterfront City Berhad (“IWC”) or (“Company”) for the following corporate exercises:-

 

  1. Proposed members’ scheme of arrangement to be undertaken by IWC pursuant to Section 366 of the Companies Act, 2016 (“Act”) in relation to the proposed merger of IWC with Iskandar Waterfront Holdings Sdn Bhd (“IWH”) involving the exchange of IWC shares (as defined below) held by shareholders of IWC other than IWH for subdivided IWH OS (as defined below): and

 

  1. Proposed assumption by IWH of the listing status of IWC and thereafter, the admission of IWH to the official list of Bursa Malaysia Securities Berhad (“Bursa Securities”) and the listing of and quotation for the entire enlarged issued ordinary share capital of IWH on the Main Market of Bursa Securities.


We acted as solicitors for Tri-Mode Systems Sdn Bhd in a Proposed Initial Public Offering in conjunction with their Listing on the ACE Market of Bursa Malaysia Securities Berhad.


We acted as due diligence solicitors for MMS Ventures Berhad for the Proposed Transfer Listing from ACE Market to Main Market of Bursa Malaysia Securities Berhad.


We act as due diligence solicitors for Mi Equipment Holdings Berhad in a Proposed Listing on the Main Market of Bursa Malaysia Securities Berhad.


We acted as solicitors for Farlim Group (Malaysia) Berhad for the disposal of Penang lands of approximately 1,022,742.96 square feet for a total consideration of RM112,501,725.60.


We acted as solicitors for Berjaya Land Berhad in the issue of up to RM 900 million nominal value five (5) – year secured exchangeable bonds.


We acted as solicitors for Multi-Purpose Holdings Berhad (“MPHB”) in the demerger of its gaming business and other businesses (comprising the operations of financial services and other investments of MPHB and its subsidiaries (“MPHB Group”)), which will result in the MPHB Group demerging into two (2) listed entities with the intention of improving the operational and financial efficiency (“Proposed Demerger”). The Proposed Demerger involves an internal reorganisation, offer for sale by MPHB to its shareholders of the entire shares in MPHB Capital (“MPHB Capital”) and proposed listing of MPHB Capital on the Main Market of Bursa Malaysia Securities Berhad. The internal reorganisation involves the disposal by MPHB of its subsidiaries to MPHB Capital for a total consideration of RM905,363,998 which shall be satisfied by a combination of cash payment of RM190,364,000 and the issuance of 714,999,998 new shares in MPHB Capital at RM1.00 per share; and capital repayment by way of a reduction of the share premium account of MPHB under Sections 60 and 64 of the Companies Act 1965.


We acted for MWE Holdings Berhad in a Proposed Selective Capital Reduction and Repayment Exercise Pursuant to Section 116 of the Companies Act 2016.


We acted for Hunza Properties Berhad in a Proposed Selective Capital reduction and repayment exercise Pursuant to Section 64 of the Companies Act 1965.


We acted as solicitors for MPHB Capital Berhad in the disposal by Multi-Purpose Capital Holdings Berhad, a wholly owned subsidiary of MPHB Capital Berhad, of 49,000,000 ordinary shares of RM1.00 each, representing 49% of the issued and paid-up share capital of Multi-Purpose Insurans Bhd to Generali Asia N.V., a 100% indirect subsidiary of Assicurazioni Generali SPA, for a cash consideration of RM355,803,000.00.