Morgan Stanley 近期参与的大型交易
1. E-Town Dragon以现金每股3.8美金的价格收购了Mattson科技公司（交易规模：3亿美金）
3. IMAX和Regina Miracle重回香港上市
1. E-TOWN Dragon to buy Mattson Technology for $3.8 per share in cash (deal size: approx. $300 mm)
- Deal Nature: Strategic M&A
- MS’s Role: Mattson’s financial advisor
- Buyer – E-Town Dragon: Private equity fund based in Beijing, E-Town, led by Beijing E-Town Capital, focuses on investments in the semiconductor industry.
- Target – Mattson: Mattson designs, manufactures, markets and globally supports semiconductor wafer processing equipment used in the fabrication of integrated circuits.
- Deal highlight: A US based semiconductor company acquired by a Chinese PE fund (indicative of active cross-border M&A activities in the semiconductor space)
2. Bain Capital raises $115 million through Hero share sale; exits with 2x return
- Details: US private equity firm, Bain Capital has raised $115 million by selling its remaining shares in India’s largest motorcycle maker Hero MotoCorp, generating more than two-times return from a four year old investment.
- Deal Nature: IPO
- MS’s Role: Bookrunner
- Deal highlight: One of the largest investment and successful exits for a PE deal in India
3. IMAX, Regina Miracle bring IPOs back to Hong Kong
- IMAX China: Oct 1, IMAX China Holding Inc. raised US$248 million from its Hong Kong initial public offering as the company aims to expand in one of its biggest growth markets, China. China’s box-office revenue in 2014 surged 34% from the previous year to US$4.7 billion, making the country the world’s second-largest film market behind the U.S., according to consulting firm EntGroup. The consultancy expects the Chinese market to overtake the U.S.’s by 2017 with box-office revenues of US$11.7 billion. The company and four major shareholders, including IMAX Corp. and private-equity firms FountainVest Partners and China Media Capital, sold a combined 62 million shares—or about 17.4% of the firm’s shares outstanding—at 31 Hong Kong dollars (US$4) each, near the bottom of an indicative price range of HK$29.80 to HK$34.50, IMAX Corp said in a statement.
- MS’ Role: Sole sponsor
- Regina Miracle: Oct 2, Regina Miracle International (Holdings) Ltd, which makes lingerie for brands such as Victoria’s Secret and Calvin Klein, raised $213 million after pricing its Hong Kong IPO near the bottom of expectations. The 295 million new shares were priced at HK$5.60 each, after being marketed in an indicative range of HK$5.38 to HK$6.38, putting the deal at HK$1.65 billion
- MS’ Role: Sole sponsor (Morgan Stanley was the sole sponsor of the IPO, with Citic CLSA also acting as joint bookrunner. The banks stand to jointly earn up to $9.6 million in commissions from the deal, equivalent to a 3.5 percent underwriting fee and a 1 percent incentive fee, according to the IPO prospectus.)
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