NEW YORK, TAPEI: Simpson Thatcher & Bartlett, Lee & Li and Baker & McKenzie were called upon in connection with Gintech Energy Corporation’s US$52.8m GDS offering.

 

Goldman Sachs International was the initial purchaser in this deal which is 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 (previous regulations required a minimum of 90%).

 

The global offering consisted of an international offering lead by Goldman Sachs as global coordinator and sole book runner and, pursuant to Taiwan government approvals for the transaction, an offering to existing shareholders of Gintech, lead by FSC Asia Investment Limited. The global offering was conducted in reliance upon Rule 144A and Regulation S under the Securities Act of 1933.

 

A Simpson Thatcher & Bartlett 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.