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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.

Moroccan banking regulations do not allow Moroccan banks to market Islamic finance products. The governor of the Moroccan Central Bank has refused seven requests filed by Islamic banks to establish in the Kingdom of Morocco. However, he recently announced that a recommendation should be adopted that enables marketing of alternative finance products. The idea is that there would not be Islamic or non-Islamic banks in Morocco but rather banks authorized to market all kinds of products, some being shariah-compliant and others not.

Leading firms in the US are taking advantage of booming private equity business as funds continue to make inroads into corporate America.

Bar associations and local firms need not fight about deregulation. Everyone can win

Regulation to counteract hedge funds

Raquel Hughes, head of main market products at the London Stock Exchange, on solving problems through communication

Over 200 US-registered public companies have announced they are conducting stock option issuance investigations to determine whether options were issued according to regulation and company practices. The principal focus of these investigations is to determine whether option prices were established at the grant date or retroactively. Many investigations now have been in process for over a year, others for more than two. Affected companies range from large well-respected US companies to microcap companies on various continents.

The Privy Council has ruled that investors may use minority protection laws even where those investors are also creditors

EU and US politicians this week agreed to harmonize regulatory standards, but European banks want progress on US unilateralism and extra-territoriality

The UK lures islamic finance to the City