Allen & Gledhill has advised venture capital firm Openspace Ventures, via its affiliate Osmosis Holdings, on a pre-series seed round investment in Sirsak, a green-tech startup with operations in Indonesia and deals in sustainable waste recovery and management. Partner Nicholas Soh led the firm’s team in the transaction. Allen & Gledhill has also advised Singapore Airlines on the issue of S$500 million (US$395m) notes, under its S$10 billion (US$7.9b) multicurrency medium term note programme. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction. AZB & Partners is advising Bluehill Capital Trust on its acquisition of more than five percent stake in semiconductor startup Sophrosyne Technologies. Partner Aarthi Sivanandh is leading the firm’s team in the transaction, which was signed on January 14, 2026 and is yet to be completed. Baker McKenzie is advising Hong Kong-listed China Ruyi Holdings on the issuance of HK$2.57 billion (US$329m) zero coupon convertible bonds due 2027, with a conversion premium of approximately 15 percent over its closing price of the last trading day before the signing of the subscription agreement. The proceeds from the bond issuance will be used by the group for strategic investments and acquisitions in its gaming and streaming businesses, as well as for general working capital purposes. Deutsche Bank Hong Kong Branch is the sole lead manager in this deal. Capital markets partners Christina Lee and Brian Wong, supported by London partner James Tanner, led the Baker McKenzie and its China joint operation partner Fen Xun team in the transaction. Clifford Chance has advised the joint sponsors CICC, GTJA and BOCOM and the underwriters on the...

Allen & Gledhill has advised the Housing and Development Board on the issue of S$1.2 billion (US$942.6m) fixed rate notes, under its S$42 billion (US$33b) multicurrency medium term note programme. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction. Allen & Gledhill has also advised Kiri Industries, a specialty chemical firm listed in India’s stock exchanges, on the US$689.03 million divestment, via a combination of a share sale and a share buyback, of its entire 37.57 percent stake in DyStar Global Holdings (Singapore), a global market leader in the textile chemicals industry. The transaction brought to a close a highly complex, multi-jurisdictional legal dispute spanning over a decade, conclusively ending Kiri’s association with DyStar. Partners Nicholas Soh, Kenneth S Lim and Dinesh Dhillon led the firm’s team in the transaction. Christopher & Lee Ong, member firm of Rajah & Tann Asia, has advised CGS International Securities Malaysia, as the sole placement agent to YTL Cement, on the secondary placement of more than 82.4 million ordinary shares in Malayan Cement, raising MYR622.2 million (US$158m) in proceeds. Partners Justin Chua and Vivian Lim from the Capital Markets Practice led the firm’s team in the transaction, which is the largest placement deal in Malaysia. JSA Advocates & Solicitors has advised ICICI Securities, Morgan Stanley India and JM Financial, as the merchant bankers, on the approximately Rs19.1 billion (US$208.7m) IPO of Shadowfax Technologies. The IPO was a combination of a fresh issue by Shadowfax and an offer for sale by shareholders, including early stage investors  Flipkart, Eight Roads, International Finance Corporation, Qualcomm Asia Pacific, Nokia Growth Partners IV, NewQuest Asia and funds of Mirae Asset. Partner Arka Mookerjee, supported by...

Allen & Gledhill has advised DBS Bank and Industrial and Commercial Bank of China Singapore Branch (ICBC Singapore), as green loan coordinators and lenders, on the S$418 million (US$331.5m) term and revolving loan facilities extended to United Venture Development (2022), an entity sponsored by UOL Group, Singapore Land Group and Kheng Leong Company. The facilities are aligned with the Green Loan Principles, and will be used to finance the acquisition and development of a residential project at Dorset Road. Partner Lim Wei Ting led the firm’s team in the transaction. Clifford Chance is advising KKCG Maritime, part of the KKCG investment group, on its voluntary partial public tender offer of up to €182 million (US$218m) for shares in Ferretti, a leading Italian luxury yacht manufacturer listed in Milan and Hong Kong. The offer, announced on January 19, 2026, is aimed at increasing KKCG Maritime’s stake in Ferretti from 14.5 percent to 29.9 percent. It is the first tender offer for a company dual-listed in Milan and Hong Kong. The offer is subject to customary and regulatory conditions. Partners Umberto Penco Salvi, Alex Bidlake, Milos Felgr and William Winterton are leading the firm’s cross-border, cross-practice team spanning Milan, Hong Kong, Prague, Rome and London in the transaction. Clifford Chance has also advised China’s largest snack and beverage retailer Busy Ming on its IPO and listing in Hong Kong, raising HK$3.67 billion (US$470m). Busy Ming is a leading and fast‑growing food and beverage retailer in China, operating a nationwide network of over 19,000 stores across 28 provinces, as of September 30, 2025, under its dual brands “Busy for You” and “Super Ming”....

AZB & Partners is advising Frime on its sale of 100 percent stake to CaptainFresh. Partners Srinath Dasari and Adoksh Shastry are leading the firm’s team in the transaction, which was signed on November 22, 2025 and is yet to be completed. AZB & Partners has also advised Vista Equity Partners on its acquisition of Dentira, including its Indian subsidiary Dentira Tech India. Partners Ashwath Rau and John Raghav led the firm’s team in the transaction, which was completed on December 1, 2025. A&O Shearman has acted as international counsel to the Singapore International Commercial Court (SICC)-appointed receivers from Deloitte Singapore on the landmark receivership of DyStar Global Holdings (Singapore). The receivers were appointed to undertake a court-supervised, competitive en bloc sale of the DyStar shares. This precedent-setting appointment – the first-time receivers were appointed by the SICC as a minority oppression remedy – marks a significant milestone in corporate governance and dispute resolution. The firm advised on the design and implementation of a robust, court-supervised sale framework tailored to a contested shareholder environment and DyStar’s complex global footprint. Following an intensive market canvass and due-diligence programme, the receivers executed the sale, via a series of bespoke contractual arrangements, of the minority stake in DyStar to the Zhejiang Longsheng Group. Based on DyStar’s implied valuation of approximately US$1.8 billion, the transaction is one of the largest receiverships in Singapore over the past decade. Partner Rishi Hindocha, supported by partners Tom Jokelson, Shuhui Kwok and Peter McDonald, led the firm’s team in the transaction. JSA Advocates & Solicitors has advised Yum! Restaurants (India) and Yum! Brands on the commercial arrangements among Yum India, Devyani International, Sapphire Foods India and other...

AZB & Partners is advising Internet Fund V, a fund managed by Tiger Global Management and an existing investor in Wow Momo Foods, on the negotiation and drafting of the agreement for Singularity AMC’s acquisition of stake in Wow Momo Foods. Partners Ashwath Rau, Srinath Dasari and Nanditha Gopal are leading the firm’s team in the transaction, which was signed on December 16, 2025 and is yet to be completed. AZB & Partners has also advised TMF Group on its acquisition of 100 percent stake of JSS Pro Services. Partner Nandita Govind led the firm’s team in the transaction, which was completed on December 18, 2025. Moreover, AZB & Partners is advising Warburg Pincus on its acquisition of stake in Haier India from Haier Group. Partners Anil Kasturi, Niladri Maulik, Akhilesh Kumar Rai, Hemangini Dadwal, Nitin Saluja and Jatinder Singh Saluja are leading the firm’s team in the transaction, which was signed on December 24, 2025 and is yet to be completed. Baker McKenzie has acted as Hong Kong and US counsel to Hongxing Coldchain (Hunan) on its global offering and listing in Hong Kong. The gross proceeds of the global offering is approximately HK$285.2 million (US$36.5m), based on the offer price of HK$12.26 (US$1.57) per H share for approximately 23.3 million H shares. The company’s H shares commenced trading on January 13, 2026. Hongxing Coldchain is a leading frozen food storage services and frozen food space leasing services provider in Hunan Province. Proceeds from the offering are to be primarily used to construct a new processing plant and new frozen food storage warehouses, upgrade existing equipment, IT infrastructure and...