Simpson Thacher & Bartlett, Lee & Li and Baker and McKenzie were called in to act on Gintech Energy Corporation’s US$52.8m GDS offering.
Goldman Sachs International was the initial purchaser in the deal, which was the first GDS offering by an Asian issuer in 2009 and the first to make use of new Taiwanese regulations allowing equity follow-on offerings to be priced at no less than 80% of the local share trading price.
The global offering consisted of an international offering led by Goldman Sachs as global coordinator and sole book runner and an offering to existing shareholders of Gintech, led by FSC Asia Investment. The global offering was conducted in reliance upon Rule 144A and Regulation S under the Securities Act of 1933.
A Simpson Thacher and Bartlett team led by Chris Lin, Blake Dunlap, David Lee, Rob Holo, Jeffrey Graff and Amie Broder advised Goldman Sachs International on US law, Baker & McKenzie advised on Taiwan law, while Lee & Li advised Gintech.
Goldman Sachs was the initial purchaser in the deal, which was the first GDS offering by an Asian issuer in 2009.