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Chinese offerings find second life in US

Two initial public offerings (IPOs) in December underlined both the continuing success of Chinese companies and the returning appetite among US investors for foreign equity. Both also saw welcome mandates for the China branches of several US and UK law firms.

January 01 2004

Japan

At present, the joint stock company (kabushiki kaisha) and the limited liability company (yugen kaisha) are the two corporate forms most common in Japan. Though the joint stock company form was intended for large and public companies and the limited liability company form was for smaller closely held companies, many closely held companies use the more prestigious joint stock company form even though it is more strictly regulated.

January 01 2004

Finland

On December 2 2003, a working group nominated by HEX Integrated Markets, the Central Chamber of Commerce of Finland and the Confederation of Finnish Industry and Employers published a new Finnish Corporate Governance Recommendation. The Recommendation is a result of the working group's review of the previous corporate governance recommendation for Finnish listed companies issued in 1997.

January 01 2004

Market Abuse Directive: banks call for safeguards against client lawsuits

Banks fear they could face client lawsuits for reporting suspicious transactions under Europe's new Market Abuse Directive. Firms led by the European Banking Federation have proposed changes to the implementation rules for the Directive to protect the industry.

January 01 2004

Europe drops quarterly reporting

European finance ministers have rejected quarterly reporting for companies. The European Commission wanted all the EU's 7,000 listed companies to move to a US system of quarterly reporting, but a compromise over the terms of the forthcoming Transparency Directive will allow listed companies to publish audited financial statements only twice a year, with a general description of their financial position.

January 01 2004

Cutting edge close-up: Qatari issue brings global Islamic bonds to the Middle East

The largest international securities issue under Islamic law is also the first deal of its type in a civil law jurisdiction. By Kenneth Aboud and Hooman Sabeti

January 01 2004

ANZ banking foray breaks records in Australia

ANZ Banking Group's purchase of The National Bank of New Zealand was the largest trans-Tasman transaction yet, the largest New Zealand M&A deal and involved the largest Australian rights issue ever, at A$3.6 billion ($2.68 billion).

January 01 2004

Debut Greek private sector securitization

The first mortgage-backed bond issue under the new securitization law in Greece has put in place a template for future deals.

January 01 2004

Clifford Chance closes French tier one benchmark

France's national savings bank fund has issued the first tier one issue under the country's new financial securities law.

January 01 2004

Vinson & Elkins and Andrews & Kurth named in Enron probe

Two prominent US law firms may have committed legal malpractice in their representation of Enron on dozens of off-balance-sheet financing transactions, according to a report released by a court-appointed examiner.

January 01 2004

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