Cross-Border IPO for China-Based Company
In 2014, Patterson Belknap acted as depositary counsel for a multinational financial institution in facilitating the largest cross-border IPO for a China-based limited holding company. The firm’s client acted, among others, as depositary bank for the NYSE-listed American Depositary Shares. In this transaction, in excess of $24.0 billion was raised including the sale of equity interests by existing shareholders. Subsequent to the closing of the IPO, Patterson Belknap has been instrumental in structuring cross-border transactions for holding company’s affiliates, including multi-jurisdictional equity based financing for these affiliates.