DEAL NEWS: Conyers Dill & Pearman, DLA Piper and Malaysian firm Wong Beh & Toh have all played lead roles in the first listings of Bermuda incorporated companies on the Bursa Malaysia Stock Exchange. Xingquan International Sports Holdings, a sports shoe manufacturer based in Jinjiang, raised RM165m through its offering while Multi Sports Holdings, a producer of sport shoe soles also based in Jinjiang, is expected to raise as much as RM57.6m through its IPO in early August.

A Conyers team led by Singapore-based lawyers Janice Oh and Stacie Seetho advised Xinquan on Bermuda law while DLA Piper advised on Hong Kong law and Wong Beh & Toh on Malaysian law.  Malaysia's CIMB Investment Bank was the adviser, underwriter, placement agent and sole bookrunner on the deal.
 
Head of Conyers' Malaysian desk, Kung Whooi Phing, provided Bermuda law guidance on Multi Sports' listing while Wong Beh & Toh is acting for the company on Malaysian law. AmInvest Bank Berhad is the adviser, sole underwriter and sole placement agent to the offering.
 
Kung said that the regulatory changes that have made these two listings possible are likely to mean more offshore-incorporated companies will list in Malaysia. "Recent changes introduced by Bursa Malaysia have made it easier for foreign companies to list their shares in Malaysia," said Kung. "Xingquan International Sports Holdings and Multi Sports Holdings are the first two China-based companies to announce direct listings on the Main Board of Bursa Malaysia... and we may be seeing the beginning of a trend of increasing foreign listings in Malaysia."