Deals analysis

  • Fonterra Shareholders' Unit IPO explained: a new model for co-operatives

    12 December 2012

    The debut of Fonterra Shareholders’ Fund IPO on NZSX and ASX was linked that of the Fonterra Shareholders' Market. It could foreshadow copycat transactions

  • How to structure Latam hotel Reits

    12 December 2012

    The first lodging Fibra was offered by GDI Group on November 29. Here's why it's a game changer for the Mexican Reit market

  • Hong Kong's RMB/HKD equity placement first analysed

    07 November 2012

    Hopewell Highway Infrastructure’s share placement marked HKEx's first dual counter equity security. Here's why its structure paves the way for Hong Kong-listed companies to access RMB investors

  • Softbank’s investment in Sprint Nextel explained

    24 October 2012

    Softbank’s $20.1 billion investment in Sprint Nextel is the largest US inbound acquisition by a Japanese company. And it allowed the target to remain a public company

  • A Shearman & Sterling/IFLR Invitation

    24 September 2012

    Shearman & Sterling, in association with IFLR, invites you to attend a free lunchtime seminar that will guide you through the perks and pitfalls of listing in Hong Kong

  • Laos rights issue first analysed

    30 August 2012

    EDL-Gen’s $200 million rights issuance was a first for the nascent Laos Securities Exchange. But deal counsel had to first overcome complexities relating to the company’s shares in four IPPs

  • How the US Jobs Act helped Man U offering

    16 August 2012

    Deal counsel explain how last week's Manchester United initial public offering on US exchange took advantage of the US Jobs Act

  • How the new TMX was created

    09 August 2012

    Canadian securities trading will never be the same now that a consortium of investment companies has taken private the Toronto Stock Exchange and associated entities. It creates real potential for conflict, but new efficiencies abound

  • TMX-Maple merger: IIAC raises favouritism concerns

    02 August 2012

    TMX Group shareholders’ approval of Maple Group Acquisition Corporation’s tender offer on July 31 ended the multi-year sale of the Toronto Stock Exchange. But it also raised concerns over market favouritism

  • China Nonferrous Mining Corporation IPO explained

    26 July 2012

    China Nonferrous Mining Corporation’s IPO and subsequent listing marked the first Africa-based company to list on the Hong Kong Stock Exchange. Practitioners believe it could spark a wave of copycats. Here’s why

  • Eurotunnel NYX listing brings competition to UK market, says exchange

    05 July 2012

    Groupe Eurotunnel’s NYSE Euronext (NYX) London listing, the first-ever on this exchange, introduces much-needed competition in the UK capital markets, NYX London’s European head of client coverage and business development has said

News analysis

  • Paul Gillis: SFC should not regulate auditors

    16 December 2012

    The Hong Kong SFC's sponsor regulations lack teeth without an independent audit regulator, according to PCAOB standing advisory group member and Peking University professor Paul Gillis

  • Why small firms suffer under SFC sponsor rules

    16 December 2012

    New sponsor rules released by the Hong Kong Securities and Futures Commission are expected to have a disproportionate impact on smaller sponsor firms and smaller companies looking to list. Here's why

  • How Edgar came of age - opinion

    30 November 2012

    The implementation of the SEC's electronic filing system in 1994 added a new dimension to the public company concept, says David Bernstein of K&L Gates

  • The year that changed research analyst coverage

    30 November 2012

    Three crucial developments in 2003 changed the future of research analyst regulation. Bank of America Merrill Lynch's Glen Rae, and Morrison & Foerster's Anna Pinedo and Jim Tanenbaum, explain how

  • US ISS outlines the future of poison pills

    30 November 2012

    Patrick McGurn, special counsel at Institutional Shareholder Services (ISS) discusses the role of shareholder rights plans in today’s age of shareholder activism

  • Sebi looking to HK disclosure rules

    29 November 2012

    Sebi is increasingly looking towards international regulation in mandating tougher disclosure rules, said counsel at IFLR’s India Capital Markets Forum

  • Why Sebi’s new rules are causing concern

    29 November 2012

    Although Sebi’s enforcement regime has previously been criticised for a lack of activity, its new standards have counsel concerned

  • The changing role of cornerstone investors in Asia

    25 October 2012

    Cornerstone investors have become fundamental to IPOs in Asia, with offerings such as those of Felda Global Ventures and Astro dependent on their support. But rules are vague and significantly differ throughout jurisdictions

  • Philippines free float rules welcomed

    11 October 2012

    Counsel expect that the Philippine Stock Exchange’s free float rules will deliver crucial liquidity to the exchange

  • Sophisticated investor must be redefined

    01 October 2012

    The major stock exchanges have become increasingly focused on protecting the minority and retail investor base post-crisis. But regulators must rethink the definition of sophisticated investor

  • Asean’s integrated exchange to boost regional liquidity

    27 September 2012

    The Association of South East Asian Nations’ (Asean) bourse link-up has the potential to boost liquidity in the region’s exchanges, according to local lawyers. But it will require a strong public relations campaign, and resolution of regulatory uncertainties

  • CBI: how to improve PD disclosure regime

    27 September 2012

    Central Bank of Ireland’s market supervision director, Gareth Murphy, said the lack of post-crisis case law relating to the Prospectus Directive could indicate it sets too low a hurdle for the quality of disclosure

  • Why Sebi’s primary market reforms disappoint

    30 August 2012

    The Securities and Exchange Board of India this month announced a raft of primary market reforms in a bid to facilitate retail investment and capital raising. But lawyers are unconvinced the changes will be effective

  • EXCLUSIVE: The law that will open Saudi Arabia's stock exchange

    19 July 2012

    Speculation as to when Saudi Arabia will open its official stock exchange to foreign investment ends here. Lawyers have revealed parts of the draft law to IFLR. Here’s what firms need to know