News In Brief

Hong Kong IPO for PRC sportswear brand

Hosa International debuted on the Hong Kong Stock Exchange in December. Its initial public offering (IPO) of Hong Kong shares with an international placement raised US$82.3 million. The China-based issuer is a manufacturer of mid-to-high end sporting apparel.

The underwriters were Bank of America Merrill Lynch and BOCI International.

A Hong Kong-based Orrick Herrington & Sutcliffe team represented Hosa on Hong Kong and US law matters. Jingtian & Gongcheng acted for the issuer as its PRC counsel, while Conyers Dill & Pearman served as its Cayman Islands counsel. The underwriters were advised by a Hong Kong-based Fried Frank team led by Victoria Lloyd and Joshua Coleman.

King & Wood Mallesons to debut in March

Australian law firm Mallesons Stephen Jaques and Chinese law firm King & Wood will merge to form King & Wood Mallesons. The combination will be effective as of March 1 2012 and is the first alliance between a Chinese and a Western law firm.

King & Wood Mallesons is set to become the largest law firm in Asia, with over 380 partners and 1800 lawyers. The firm's Hong Kong offices will utilise the verein structure to merge their partnerships.

Wang Junfeng, chairman of King & Wood, will become chairman of the new combined firm. Based in Hong Kong, Stuart Fuller will become global managing partner of the new firm.

PRC menswear maker debuts in Hong Kong

China Outfitters Holdings has raised HK$1.13 billion (US$145 million) from its initial public offering (IPO) on the Hong Kong Stock Exchange and Rule 144A/Regulation S global offering.

The issuer, a PRC-based menswear apparel company, plans to use the IPO proceeds for the licensing or acquisition of other international brands, logistics system enhancement, joint venture establishment and expansion.

Advising China Outfitters Holdings was a Hong Kong Herbert Smith team led by partners Tommy Tong, Jason Sung, Kevin Roy and Melody Chen. The issuer's PRC counsel and offshore counsel were Commerce & Finance Law Offices and Walkers, respectively. The underwriters were advised by Hogan Lovells as to Hong Kong and US law aspects, and their Chinese counsel was Jingtian & Gongcheng.