中国房地产网站运营商搜房网近日在纽约证券交易所发行IPO, 成功募资1.25亿美元。
此次上市项目中，搜房网由金杜，离岸律所康德明和美国律所盛德国际提供法律服务。 方达和美国盛信律师事务所担任承销商的法律顾问。而澳洲电信（Telstra），搜房网的55%股东，则由美国苏利文•克伦威尔律师事务所提供法律服务。
| SouFun Holdings NYSE IPO | US$125m | |
|---|---|---|
| Synopsis SouFun Holdings launches IPO on the NYSE | ||
| Firm | Client | Role |
|
King & Wood |
Issuer | PRC counsel |
| Sidley Austin [Lead partner: Timothy Li] | Issuer | US counsel |
| Conyers Dill & Pearman | Issuer | Cayman Islands counsel |
| Fangda Partners | Underwriters* | PRC counsel |
| Simpson Thacher [Lead partner: Chen Leiming] | Underwriters | US counsel |
| Sullivan & Cromwell [Lead partner: William Chua] | Telstra | US counsel |
King & Wood, Sidley Austin and Conyers have recently advised SouFun Holdings, the country’s largest property website, on its IPO on the New York Stock Exchange (NYSE). The company sold 2.9 million American Depositary Shares (ADS), raising US$125m.
According to SEC filings, Telstra, Australia’s largest telephone company and the owner of 50.5% of SouFun’s shares, will sell its entire stake in the company. Melbourne-based Telstra paid US$254m for 40 million shares in 2006. The price has since surged to approximately US$433m according to IPO value calculations.
Along with recent major transactions, Telstra’s significant profits mark the exponential growth in the local TMT industry. Vodafone has recently sold its 3.2% stake in China Mobile for a whopping US$6.6bn. The deal was advised by Freshfields and Cayman Islands firm Ogier.
According to Bloomberg reports, at least three other PRC companies – China Ming Yang Wind Power Group, Country Style Cooking Restaurant Chain and ChinaCache International Holdings – are seeking to list and raise a combined US$536m on the NYSE this month.
*Deutsche Bank and Goldman Sachs Group were hired by SouFun to lead the offering. ALB
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