Our Asia Practice, among the largest of any U.S. law firm, includes extensive experience in cross-border securities offerings, privatizations, joint ventures, mergers and acquisitions, project financings, other bank financings and other transactions involving Asia and the Pacific Rim, as well as commercial litigation, bank regulatory matters and questions of U.S. and international tax law.
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• According to Asia Legal Business, as of October 5, 2009, Davis Polk ranked:
  • #1 in deals completed by value in Asia over the last 3-, 6-, 9- and 12-month periods;
  • #1 in deals completed by value in Japan over the last 3-, 6-, 9- and 12-month periods; and
  • #1 among overseas counsel in deals completed by value in Korea over the last 3-, 6-, 9- and 12-month periods.
• Davis Polk received three awards at the China Law & Practice Awards for 2009:
  • 2009 International Capital Markets Team of the Year
  • Debt and Equity-Linked Deal of the Year (Sino-Forest Corporation convertible notes offering)
  • Equity Deal of the Year (Solarfun Power SEC-registered dribble-out offering)
• Davis Polk advised Advanced Semiconductor Engineering on its going-private buyout of ASE Test, a deal that was named "Taiwan Deal of the Year" by Asia Legal Business.
• Davis Polk was named the “International Deal Firm of the Year” by Asian Legal Business (2009).
• Davis Polk was named “Employer of Choice” among foreign firms in Japan by Asian Legal Business (2008 & 2009).
• Davis Polk ranked among the top 5 U.S. law firms in Asia Pacific (ex. Japan) M&A deals in the first quarter of 2009, according to mergermarket.
• Davis Polk’s “impressive deal output and the praise it garners reveal that this is one of the premier choices for U.S. law advice on corporate transactions in Asia.” Chambers Asia (2009)

China

• $5.3 billion global offering by Metallurgical Corporation of China (MCC), a Chinese engineering and construction company, of H shares, consisting of an initial public offering on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A and Regulation S, with a concurrent offering of A shares listed on the Shanghai Stock Exchange; this was the largest IPO in Hong Kong and the third-largest IPO in the world in 2009
• $2.5 billion initial public offering of Sands China Ltd., a subsidiary of Las Vegas Sands and a developer, owner and operator of integrated resorts and casinos in Macau
• We advised China Investment Corporation (CIC), the Chinese sovereign wealth fund, in connection with its $1.9 billion investment in PT Bumi Resources Tbk (Bumi), the largest coal mining company in Indonesia.
• $1.04 billion initial public offering by  Shanda Games Limited, a leading Chinese online game developer and operator, and its parent, Nasdaq-listed Shanda Interactive Entertainment Limited, on an initial public offering of American Depositary Shares; this was the largest initial public offering in the United States by a Chinese company in 2009
• $500 million Rule 144A/Regulation S offering of high-yield senior notes by Noble Group, a Hong Kong-based global supply chain manager in five business segments
• $345 million Rule 144A/Regulation S offering of convertible senior notes by Sino-Forest, a Canadian private commercial forestry plantation operator in China
• $300 million Rule 144A/Regulation S offering of senior notes by Nine Dragons Paper, a Chinese producer of packaging paperboard products; this was the first investment-grade debt offering by a non-state-owned company in the People’s Republic of China
• $138 million offering by Changyou.com Limited and its parent, Nasdaq-listed Sohu.com, of American depositary shares. Based in Beijing, Changyou is a leading online game developer and operator in China. Sohu offers one of the most comprehensive Chinese language Internet properties and proprietary search engines. This was the first initial public offering on Nasdaq and the second initial public offering in the United States in 2009. 
• We advised Tianwei New Energy, a Chengdu, China-based supplier of solar power products, including silicon wafers and photovoltaic cells, modules and systems, in connection with its majority investment in Hoku Scientific, a Honolulu, Hawaii-based Nasdaq-listed, clean energy company.

 

Japan

• $9.2 billion global common stock offering by Sumitomo Mitsui Financial Group
• $3.9 billion global offering of common stocks and convertible bonds by Hitachi, a Japanese conglomerate
• $1.8 billion Rule 144A/Regulation S offering of Tier 1 perpetual perferred securities by SMFG Preferred Capital USD 2, a Cayman Islands finance subsidiary of Sumitomo Mitsui Financial Group
• We are advising Aozora Bank in connection with its merger of equals with Shinsei Bank. The entity established after the completion of the merger will be the 6th largest banking group in Japan.
• ¥112.4 billion acquisition of Nikko Asset Management Co., a Japanese investment management company, by The Sumitomo Trust and Banking Co., a Japanese bank
• $1.36 billion Regulation S exempt common stock offering by NEC Corporation, one of the world’s leading providers of Internet, broadband network and enterprise business solutions
• $1.1 billion acquisition by Shionogi & Co., a Japanese pharmaceutical company, of Sciele Pharma, a U.S. midsize pharmaceutical company
• ¥83.4 billion (approximately $891 million) global offering of common stock by ORIX Corporation, one of Japan's leading financial services groups
• ¥103 billion Rule 144A/Regulation S secondary offering of common stock of Chuo Mitsu Trust Holdings, a Tokyo-based trust banking group

Korea

• $2 billion Schedule B debt offering by The Korea Development Bank, a government-owned financial institution that supplies capital for the financing of major industrial products
• $1.5 billion SEC-registered Schedule B debt offering by The Export-Import Bank of Korea
• $938 million underwritten rights offering by Shinhan Financial Group, the largest Korean financial institution by market capitalization; the offering is the largest rights offering out of Korea

 

Philippines

• 12.5 billion Philippine peso (approximately US$261 million) Rule 144A/Regulation S offering by Metro Pacfic Investments Corporation (MPIC), a leading diversified infrastructure holding and management company in the Philippines, of common shares listed on the Philippine Stock Exchange; this is the first significant equity offering from the Philippines in 2009 and the largest Philippine equity offering since July 2007

 
Singapore

• $2.8 billion rights offering by DBS Group Holdings Ltd., the owner of Singaporean DBS Bank, the largest bank in Southeast Asia