Shin & Kim was awarded with the ‘Most Innovative Deal structuring Advisor of the Year’ at the 18th Korea IB Awards by Money Today.
Shin & Kim received the award for the legal advice provided in the listing of ‘ESR Kendall Square REIT’, which received great attention as Korea’s first logistics backed REIT listing. Shin & Kim provided legal advice throughout the entire listing process including, but not limited to, the review of the transactional structure, the authorization by the Ministry of Land, Industry and Transport, and the review of relevant IPO regulation issues. After the listing, Shin & Kim handled the pre-IPO investors’ 5% matter entered into by the shareholders’ agreement. Shin & Kim was particularly accredited for its unprecedented approach in the course of delivering the overall advisory service by: (i) proposing a family fund type REITs structure for obtaining the initial IPO funds instead of the usual structures for IPOs where certain property ownerships were first acquired in a manner similar to private placements; and (ii) proposing and successfully executing, for the first time, the idea of issuing conversion bonds to offshore investors at the time of the pre-IPO, and then exercising conversion rights after the IPO.
Attorneys Suk Lee, Yong Jin Park, and Hyun Keun Yang attended the award ceremony held on January 21, at the Plaza Hotel in Jung-gu, Seoul.
The IPO listing of an REIT requires highly sophisticated and complex transactions involving both the laws of real estate investments and IPO listings. Shin & Kim is specialized in REITs with a dedicated team comprised of two professional groups: the alternative investment group with expertise in real estate transactions and the capital market group that specializes in IPO.
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