With over three decades in the region, Paul, Weiss has long been recognized as a leader and legal innovator among international law firms in Asia. Our Asia based partners have been consistently ranked in the top tier of practitioners in their areas of expertise.

Naspers Completes Accelerated Offering of Tencent Shares for $9.8 Billion

Paul, Weiss represented South African media group Naspers in its disposal and placing of approximately 2 percent of the issued share capital of Chinese internet giant Tencent. The offering raised gross proceeds of approximately US$9.8 billion. The offering was conducted by way of an accelerated bookbuilding process. According to Bloomberg, this is the largest ever secondary share sale in the Hong Kong market to date. Bank of America Merrill Lynch, Citigroup and Morgan Stanley acted as joint global coordinators and joint bookrunners. Tencent’s shares are listed on the main board of the Hong Kong Stock Exchange.    

The Paul, Weiss team included corporate partners Jeanette Chan and Mark Bergman and counsel Corinna Yu and John Satory.

March 23, 2018

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