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Conyers Dill & Pearman advised Shanghai-based manufacturer of children’s products Boshiwa International Holding Limited on its US$320 million IPO on the Hong Kong Stock Exchange on September 29, 2010.
Conyers Dill & Pearman provided Cayman Islands legal counsel on the transaction alongside Orrick, Herrington & Sutcliffe, who advised on matters of Hong Kong and US law, and Haiwen & Partners, who advised on PRC law. Meanwhile, Fried, Frank, Harris, Shriver & Jacobson, advised the underwriters on Hong Kong and US law while Fangda Partners advised the underwriters on PRC law.
Lilian Woo, Managing Partner of Conyers’ Hong Kong office, said: “There has been a definite upswing in capital markets transactions in Asia, with the number of IPOs reaching pre-recession levels, a positive level of growth which we expect to continue.”
Cayman Islands companies have long been the vehicle of choice both for Asian investors entering the US market and foreign direct investment into Asia. As the largest and longest established offshore firm in Asia, Conyers’ Hong Kong office has for over 25 years provided clients in Asia with access to key offshore jurisdictions, acting as a conduit for this growth.
Boshiwa International Holding Limited is a leading Chinese developer and retailer of children’s products, including children’s apparel, children’s household products and children’s fast moving consumable goods.