Mah-Kamariyah & Philip Koh, Baker McKenzie Wong & Leow and Latham & Watkins advised on MTT Shipping and Logistics’ IPO on the Bursa Malaysia, raising MYR652 million (USD164 million). It is the country’s largest IPO in the transportation and logistics sector by market capitalisation and listing deal size since 2013.
Mah-Kamariyah & Philip Koh acted for MTT Shipping and was the primary counsel acting on the listing. The team comprised managing partner Adrian Koh Yeow York, partner Yee Chew Yan, senior associates Jack Tan Wai Kit and Poo Hao Yi, and associates Vanessa Liau and Eric Khor.
“The IPO presented enhanced challenges because of the size and scale of the company’s shipping operations. MTT Shipping holds the largest market share (at 46%) among domestic container liner shipping operations in terms of cabotage volume and currently runs the country’s largest Malaysian-flagged container fleet. As such, we had to lean heavily on our firm’s expertise in shipping and maritime law transactional work,” Koh told Asia Business Law Journal.
Baker McKenzie Wong & Leow advised the joint global co-ordinators and joint bookrunners on US federal securities and English laws. CLSA Limited and CLSA Securities Malaysia were the joint global co-ordinators and joint bookrunners, with Affin Hwang Investment Bank also serving as a joint bookrunner. CIMB Investment Bank was the principal adviser.
US-qualified capital markets principal Alexander Stathopoulos, who is based in Singapore, led the Baker McKenzie team.
Latham & Watkins represented MTT Shipping and Logistics on its IPO, with Singapore-based corporate partner Sharon Lau, counsel Kelly Teoh and foreign legal consultant Jose Mendoza leading the team.
MTT Shipping and Logistics operates the largest fleet of Malaysian-flagged container ships.
