Simpson Thacher Represents J.P. Morgan in an Offering of GDSs by Hanatour Service Inc.
01.22.07
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Simpson Thacher represented J.P. Morgan in a Rule 144A/Reg S offering of global depositary shares (“GDSs”) representing common shares of Hanatour Service Inc. and listing of the GDSs on the London Stock Exchange. Hanatour Service is a leading wholesale travel agency in Korea with the largest market share of the tour package business.
The offering of an aggregate of 1,161,100 shares of common stock in the form of 5,805,000 GDSs raised US$68.9 million. The GDSs are listed for trading on the London Stock Exchange and the common shares are listed for trading on the KOSDAQ Market division of the Korea Exchange.
The Simpson Thacher team for this transaction included Youngjin Sohn, Kristina Kang, Changsu Oh and Jae-Hak Kim in Hong Kong, and Helena Wolin (tax) and Mark Lab (blue sky) in New York.