Davis Polk Advises Tokyu Fudosan Holdings Corporation on Its ¥55.3 Billion Follow-On Equity Offering

Davis Polk advised Tokyu Fudosan Holdings Corporation in connection with a follow-on offering of 80,436,000 shares of common stock. In addition, the underwriters have over-allotment options to purchase up to 12,064,000 shares in the aggregate. The global offering consisted of a public offering in Japan and a debut international offering outside Japan pursuant to Rule 144A and Regulation S. Assuming full exercise of the over-allotment options, the aggregate proceeds of the global offering will be approximately ¥55.3 billion (approximately $492 million). Tokyu Fudosan Holdings’ common stock is listed on the Tokyo Stock Exchange.

Concurrently with the global offering, Tokyu Fudosan Holdings conducted a third-party allotment of 17,500,000 treasury shares to Tokyu Corporation.

Tokyu Fudosan Holdings is the holding company for the Tokyu Fudosan Group, a leading comprehensive real estate group in Japan. Through its subsidiaries, Tokyu Fudosan Holdings engages in the development, leasing, sale, management and brokerage of real estate properties in Japan and overseas and also operates lifestyle and leisure-related businesses.

The Davis Polk corporate team included partner Jon Gray, counsel Christopher J. Kodama, senior transaction manager Chihiro Sasaki and associates Shinya Fujiwara and Alexander Coley. Counsel Alon Gurfinkel and associates Omer Harel and Veronica Davis provided tax advice. Associate Sijia Cai provided 1940 Act advice. Members of the Davis Polk team are based in the Tokyo, London and New York offices.