We advised international joint lead managers on the global offering of common stock

Davis Polk advised the international joint lead managers acting as representatives of several international managers in connection with the global offering of 94,000,000 shares of common stock of Hulic Co., Ltd., which included over-allotment options of 12,260,000 shares. The global offering consisted of an offering in Japan and an international offering outside Japan pursuant to Rule 144A and Regulation S. The shares are listed on the Tokyo Stock Exchange. The aggregate proceeds of the global offering are approximately ¥97 billion with full exercise of the over-allotment options (approximately $856 million).

Hulic is a large Japanese real estate company that engages principally in the leasing of properties. In addition to the leasing business, it also engages in property development, “value-added” business through renewal, renovation and conversion of existing properties and some other new businesses such as facilities for the elderly and hospitals or tourism. Many of Hulic’s properties are prominent landmarks in major areas of Tokyo and other metropolitan areas of Japan.

The Davis Polk corporate team included partner Jon Gray and associate Chihiro Sasaki. Counsel Alon Gurfinkel provided tax advice. Members of the Davis Polk team are based in the Tokyo and London offices.

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