Latest Deals from Law Firms and Legal Services Providers: 22nd October 2025

Allen & Gledhill has advised DBS Bank, Deutsche Bank Singapore Branch and The Hongkong and Shanghai Banking Corporation Singapore Branch on the establishment of a S$750 million (US$577.5m) multicurrency medium term note programme, and issue of S$150 million (US$115.5m) 5.75 percent sustainability senior notes due 2030 by Giti Tire. The notes were issued under the Sustainable Financing Framework by Giti Tire, which is aligned with the International Capital Market Association’s Green Bond Principles 2025 and Social Bond Principles 2025. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction.

Allen & Gledhill has also advised Renew Group on its sale of approximately 14.42 percent of the ordinary shares in UltraGreen.ai to, among others, Anchor VI (65 Equity Partners), Verde Taano (Vitruvian Partners) and AGP Healthcare Fund VCC (August Global Partners), at an equity valuation of US$1.3 billion. Partner Rhys Goh led the firm’s team in the transaction.

Moreover, Allen & Gledhill has advised StarHub on the issue of S$200 million (US$154m) 3.35 percent subordinated perpetual securities, under its S$2 billion (US$1.54b) multicurrency debt issuance programme. Partner Wu Zhaoqi led the firm’s team in the transaction.

AZB & Partners is advising Kohlberg Kravis Roberts & Co and investment funds, vehicles and/or entities managed and/or advised by it or its affiliates on LEAP India’s proposed IPO of equity shares for up to Rs24 billion (US$273m), comprising of LEAP India’s primary issue of such number of equity shares aggregating up to Rs4 billion (US$45.6m), and an offer for sale by Vertical II and KIA EBT of such number of equity shares aggregating up to Rs20 billion (US$228m). KKR affiliate Vertical II is a promoter of LEAP India and a selling shareholder in the proposed IPO. The date of the Draft Red Herring Prospectus was submitted on August 29, 2025. Partners Ashwath Rau, Atreya Bhattacharya, Varoon Chandra, Lionel D’Almeida and Rahul Agarwal led the firm’s team in the transaction.

Baker McKenzie has represented Takeda on its global strategic partnership with Innovent Biologics, bolstering Takeda’s oncology pipeline with next-generation investigational medicines for the treatment of solid tumors. Under terms of the agreement, Takeda will gain rights to two late-stage oncology assets – IBI363 and IBI343 – outside Greater China, and an exclusive option to license an early-stage program. IBI363, a bispecific antibody fusion protein, is being evaluated in lung and colorectal cancers, while IBI343, an antibody-drug conjugate, targets gastric and pancreatic cancers. Takeda will also receive an exclusive option to license global rights outside of Greater China for IBI3001, an early-stage investigational medicine. Takeda will lead global co-development and commercialization efforts outside Greater China and plans to establish US manufacturing for these medicines. The agreement also includes a US$1.2 billion upfront payment to Innovent, with additional milestones and royalties, subject to customary closing conditions. Partners Randy Sunberg (New York), Christina Lee (Hong Kong), Brian Wong (Hong Kong) and Creighton Macy (Washington DC) led the firm’s team in the transaction.

DLA Piper has advised the sole sponsor and underwriters on the global offering and listing of Chinese biotech company Xuanzhu Biopharmaceutical in Hong Kong, under Chapter 18A of the Hong Kong Listing Rules, raising approximately HK$781 million (US$100.5m). The Hong Kong public offering was oversubscribed by over 4,900 times, making it one of the most popular new listings this year. The listing marks a spin-off of Xuanzhu Biopharmaceutical from its parent company, Sihuan Pharmaceutical Holdings Group, under Practice Note 15, and provides Xuanzhu Biopharmaceutical with enhanced financial flexibility and a dedicated platform for its innovative drug development, while enabling Sihuan Pharmaceutical to focus on its medical aesthetics business. Xuanzhu Biopharmaceutical is an innovation-driven biopharmaceutical company in China that leverages its deep understanding of China’s pharmaceutical industry and insights of its unique clinical needs to improve patient health and life. Since its inception in 2008, it has built a comprehensive in-house R&D platform that has supported its development of a highly competitive and balanced pipeline. It has over ten drug assets under active development, covering digestive diseases, oncology and nonalcoholic steatohepatitis (NASH). Its track record includes the successful development and subsequent transfer of or out-licensing of four drug candidates to leading pharmaceutical companies. EMEA and Asia Pacific equity capital markets co-head George Wu led the firm’s team in the transaction.

JSA has advised Intellihealth Solutions (dba Truemeds) and its founders on its Series C fundraises. The round’s first close was led by Accel, followed by a second close led by Peak XV Partners, with significant participation from existing investors WestBridge and InfoEdge Ventures. Truemeds is a leading telehealth platform, which includes providing generic and substitute medicines, and is focused on enabling greater affordability in healthcare access. Partner Rishabh Gupta led the firm’s team in the transaction.

JSA is also advising Samsung company Harman International Industries on the India leg of the strategic global sale of its Digital Transformation Solutions business to Wipro at an overall deal value of up to approximately Rs31.25 billion (US$356m). The firm closely supported the Baker McKenzie team on the global deal in handling all India-related structuring, regulatory, employment and due-diligence aspects of the transaction. Partner Rupinder Malik, supported by partner Harshit Anand, led the firm’s team in the transaction.

Moreover, JSA has advised Grand Anicut Angel Fund and Grand Anicut Fund 3 on their investment in Unico Housing Finance, a Chennai-based RBI-registered housing finance company. Unico Housing Finance is dedicated to offering affordable housing solutions to lower and middle-income customers, and provides a diverse range of services catering to individuals in the affordable housing segment. Partner Siddharth Mody, supported by partner Anurag Shrivastav, led the firm’s team in the transaction.

Paul Hastings (Hong Kong) has advised Fibocom Wireless on its HK$2.9 billion (US$373m) global offering and listing in Hong Kong. Wireless communication module provider Fibocom is currently listed in Shenzhen. Founding partner and Greater China chair Raymond Li and corporate partners Peter Cheng and Steven Hsu led the firm’s team in the transaction.

Shardul Amarchand Mangaldas & Co has represented Blue Tokai Coffee Roasters (Muhavra Enterprises) on its recently announced bridge funding round valued at approximately US$25 million. The round saw participation from the company’s existing investors A91, Verlinvest Anicut Capital and 12 Flags. Partner Nikita Goyal led the firm’s team in the transaction.

Trilegal has advised Muthoot Finance on the upsize of the global medium-term note program from US$2 billion to US$4 billion, and issuance of Rule 144A/Regulation S, US$-denominated senior secured notes due in 2030 with a coupon of 6.375 percent, aggregating to US$150 million thereunder. The notes were listed in India. Partners Richa Choudhary and Joseph Jimmy led the firm’s team in the transaction.

Trilegal has also advised on the successful listing of equity shares aggregating to approximately Rs6.9 billion by Atlanta Electricals, a transformer manufacturer in India specialising in power, auto and inverter duty transformers up to and including 500 Mega Volt-Amp capacity and with 775 kilovolts voltage, across 19 states and three union territories. The IPO proceeds will be utilised for the repayment of its borrowings, and funding its working capital requirements. The IPO was over-subscribed 70.63 times, recording an overwhelming response from Qualified Institutional Buyers with 194.92 times subscription. Atlanta listed with a strong debut, delivering a 14.59 percent premium on the bourses. The syndicate of book-running lead managers comprised Motilal Oswal Investment Advisors and Axis Capital. Partner Richa Choudhary led the firm’s team in the transaction.