21 Feb 2018
Pre-conditional voluntary cash offer of Lee Metal Group Ltd
Partner Danny Lim, Senior Associate Cynthia Wu and Associate Gina Ng are advising BRC Asia on its S$199.3 million (US$151 million) pre-conditional voluntary cash offer for shares in Lee Metal Group. Both companies are listed in Singapore. Lee Metal is an established distributor and fabricator of steel products, as well as a recognised international trader of steel and steel-related products in the region.
10 Feb 2018
Proposed placement of shares in the share capital of OUE Lippo Healthcare Limited to Browny Healthcare Pte Ltd
Partners Sandy Foo, Penelope Loh and Senior Associate Goh Jun Yi acted for OUE Lippo Healthcare on the proposed placement of 562.5 million ordinary shares in the share capital of OUE Lippo Healthcare to Browny Healthcare, a wholly-owned subsidiary of Itochu. The issue price of S$0.14 (US$0.106) represents a premium to the volume weighted average price on the last full market day prior to the company’s announcement. The transaction was valued at S$78.75 million (US$59.5m).
29 Jan 2018
Global debt restructuring of PT Bumi Resources Tbk.
Partners Abdul Jabbar, Sim Kwan Kiat, Lee Xin Mei, Senior Associates Chai Wei Han, Farrica Koh and Associate Tan Kok Siong acted as Singapore counsel to Bumi Resources on one of the largest and most complex debt restructuring transactions completed in South East Asia. The restructuring primarily involved the issuance of new loans and securities, comprising of senior notes, mandatory convertible bonds and contingent value rights (CVRs), in exchange for US$4.5 billion of Bumi’s financial debt. Notably, the firm worked with Withers on the first ever CVRs (contingent on the price of coal) to be listed in Singapore.
16 Jan 2018
Listing of ZACD Group Ltd. on HKSE
Partners Howard Cheam, Arnold Tan, Elsa Chai and Associate Gina Ng have acted as Singapore counsel to ZACD Group on its HK$495 million (US$63.2m) listing in Hong Kong.