Benefiting from the recent upswing in economic activity, Herbert Smith Asia corporate teams have advised on seven share placements in the past month. They are: 

• Hong Kong corporate partner John Moore and his team advised Citi and Goldman Sachs as joint bookrunners on the HK$2.68 billion (US$344 million) placement of 120.29 million existing shares for Li & Fung Limited, a leading sourcing company listed on the Main Board of the Hong Kong Stock Exchange 
• Hong Kong corporate partner John Moore and his team advised Deutsche Bank, with UBS as joint bookrunners, in connection with the placing of 120 million new shares by Hopson Development Holdings, a major mainland property developer, raising HK$1.68 billion (US$216 million) 
• Hong Kong corporate partner John Moore and his team advised the placing agents - Goldman Sachs, BNP Paribas and Cazenove Asia (a Standard Chartered group company) - on the HK$2.03 billion (US$261 million) top-up placement of 418.6 million shares of Shui On Land, a leading property developer listed on the Main Board of the Hong Kong Stock Exchange 
• Greater China managing partner Andrew Tortoishell and his team advised Dah Sing Bank on its HK$302.4 million (US$39.2 million) placement and issuance of 54 million shares 
• Hong Kong corporate partner John Moore and his team advised Citigroup Global Markets Asia and BOCI Asia as placing agents on the HK$ 1.587 billion (US$203 million) placement of 460 million shares (including a partial top-up of 230 million shares) of Poly (Hong Kong) 
• Jakarta corporate partner Brian Scott and Hong Kong-based partner John Moore advised Goldman Sachs, as the sole international bookrunner, on the sale of 1.25 billion shares of PT Adaro Energy, an Indonesian coal mining company, by a group of selling shareholders, raising Rp1.5 billion (US$150 million). 
• Herbert Smith advised HeidelbergCement on the sale of a 14.1% stake in Indonesia-based PT Indocement Tunggal Prakarsa for approximately EUR 200 million, through a private placement run by The Royal Bank of Scotland. Jakarta-based corporate partners David Dawborn and Brian Scott led the local team while Hong Kong-based corporate partner John Moore advised on US securities matters and Hiswara Bunjamin & Tandjung (HBT) partner, Iril Hiswara led the HBT team.

Hong Kong John Moore commented:
“We are delighted that we have been able to work with our major investment banking and corporate clients on these successful transactions. This string of deals reinforces our position as one of the leading capital markets teams in the region."