DLA Piper has advised Kingston Corporate Finance Limited (as the sponsor) and the underwriters to the IPO and listing of digital satellite television equipment maker Sandmartin International Holdings Limited on the main board of the Stock Exchange of Hong Kong.

Sandmartin is an investment holding company engaging in the design, manufacture and distribution of satellite TV reception products and communication related products. Sandmartin sold approximately 125 million ordinary shares, or 25% of the enlarged capital of the company after completion of the IPO, priced at HK$1.08 per ordinary share. Trading of the shares commenced on 12 May 2005.

DLA Piper Hong Kong-based corporate finance partner, Andrew Lui led the team working on the deal and made this comment: "This is an important milestone for Sandmartin. It's also a significant deal for our Hong Kong-based corporate finance team building on earlier successes such as the listing of Chinese insurer Ping An."

Mr Lui said the outlook for IPOs in the second half of 2005 was strong with expectations of a number of big Chinese candidates coming to market: "In the IPO market, large Chinese banks and Chinese corporations particularly in the coal and ports industries will capture much of the attention."

Kingston Corporate Finance Limited was the sponsor for the IPO, and G.K. Goh Securities (H.K.) Limited was the lead manager and bookrunner.

The other DLA Piper lawyers advising on the deal were: assistant solicitor Raymond Lam and trainee solicitor Rachel Chan.  DLA Piper is known as Dibb Lupton Alsop in Hong Kong.

Meanwhile, DLA Piper's recent spate of high profile Asian appointments has continued with the announcement of private equity and finance expert Peter Wayte as the newly merged firm's senior partner for Europe and Asia.

Wayte, a board member and corporate partner at DLA Piper's London base, fills the shoes vacated by Roger Lane-Smith, who is retiring from the role. Wayte's responsibilities include chairing board and partner meetings, ensuring good corporate governance and organizing DLA Piper's corporate social responsibility program in Europe and Asia. He has been appointed for an initial three-year period and will continue to be based in London.

"While most of my time will be spent in Europe due to the relative size of the business and number of partners, an important part of my role will be ensuring that DLA Piper values are communicated clearly and that all Asian offices, partners and staff feel part of the business," Wayte says.

This appointment comes hot on the heels of an aggressive recruitment drive in DLA Piper's Asian offices. In April they doubled the size of its Bangkok desk with the hiring of eight new lawyers, including the poaching of a six strong telecoms team from the Coudert Brothers and the acquisition of the highly regarded insolvency and debt expert Lampros Vassilou, a former partner at Siam Premier.

Last month former Asia-Pacific 3Com legal director Gigi Cheah and IP expert Justin Davidson joined DLA's Hong Kong office as partners.