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Duoyuan Global Water follow-on public offering
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US$105m
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|---|---|---|
| Synopsis Duoyuan Global Water launched follow-on public offering | ||
| Firm | Client | Role |
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Commerce & Finance [Lead lawyer: Li Hui] |
Issuer
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PRC counsel
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Winston & Strawn [Lead lawyers: Simon Luk and Eric Cohen] |
Issuer
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Hong Kong and US counsel
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Maples and Calder
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Issuer
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BVI counsel
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Tian Yuan
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Underwriters*
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PRC counsel
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O’Melveny & Myers [Lead lawyers: Kurt Berney, Larry Sussman and Nathan Bush] |
Underwriters*
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US counsel
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Pillsbury |
Shareholder |
US counsel
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| BLC Law Office | Shareholder | Georgian counsel |
|
White & Case |
Depositary |
US counsel
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Commerce & Finance and Maples and Calder have recently advised Duoyuan Global Water (DGW) on its US$105m follow-on public offering. Winston & Strawn, which launched offices in Beijing and Shanghai last year, also advised the issuer, seizing the client from Hogan & Hartson, which advised DGW and Duoyuan Printing on their respective US$88m and US$55m IPOs on NASDAQ last year.
In 2009, Duoyuan became the third Chinese company to list on the New York Stock Exchange, following Changyou.com and Chemspec International, all of which were advised by Hogan & Hartson. Despite not having advised on DGW’s follow-on offering, the firm is still listed as the company’s long-term legal advisor.
Sustaining a 42% gross profit increase last year, Duoyuan has benefited from China’s push on environmentally friendly products.
*Credit Suisse and Piper Jaffray & Co acted as the joint book-running managers for the offering. Macquarie Capital, Rodman & Renshaw, and Janney Montgomery Scott served as co-managers.
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