Equity

Freshfields Bruckhaus Deringer has advised Goldman Sachs as underwriters on the initial public offering and Hong Kong Stock Exchange listing by China Agri-Industries Holdings. Due to demand (over 606 times oversubscribed) a clawback mechanism was applied and the amount of shares offered to retail investors has now been increased to 50% cent of the total number of shares offered. Total gross proceeds from the IPO were $333 million and will grow to $380 million once the 15% over-allotment option is exercised in full.

Deutsche Bank, JP Morgan, CLSA and Macquarie acted as managers on the Singapore initial public offering of First Ship Lease Trust (FSL). This is the biggest business trust, by market capitalization, to list on the Singapore Stock Exchange. The IPO raised $490 million. Clifford Chance acted for the managers with partner firm in Singapore, WongPartnership, advising the managers on Singapore law. Allen & Gledhill acted for...