Milbank Represents Underwriters in Initial Public Offering by CDC Software
4.8 Million American Depository Shares Sold by CDC Software and Selling Stockholder
NEW YORK, August 11, 2009 – International law firm Milbank, Tweed, Hadley & McCloy LLP advised the underwriters, Lazard Capital Markets LLC, JMP Securities LLC, Cantor Fitzgerald & Co., Janney Montgomery Scott, Macquarie and Morgan Keegan and Company, Inc., in CDC Software Corporation’s (NASDAQ: CDCS) initial public offering. This IPO is one of only a handful of U.S.-listed IPOs to occur this year. CDC Software, a global provider of enterprise software applications, and the selling stockholder sold 4.8 million American Depository Shares (ADS), at $12 per ADS. The ADSs were listed on the NASDAQ Global Market.
James H. Ball Jr., a partner in Milbank’s Global Securities Group, commented, “This offering shows that even in these turbulent markets, companies with a solid management team and track record, together with superior execution by the underwriters, can complete a highly successful IPO.”
The Milbank IPO team representing the underwriters was led by Mr. Ball, along with associates Trevor K. Truman and Ulric M. Lewen, all in the firm’s New York office.
About Milbank
Milbank, Tweed, Hadley & McCloy LLP is a premier global law firm headquartered in New York, with offices in Washington, D.C., Los Angeles, London, Frankfurt, Munich, Tokyo, Beijing, Hong Kong and Singapore. Milbank was recently named “Equity Law Firm of the Year” for the Americas for 2008 by the International Financial Law Review. Milbank is a recognized leader in capital markets, restructuring, corporate finance, project finance, acquisition finance, and other major fields of legal practice. The Firm's practice includes cross-border mergers and acquisitions and global securities transactions as well as assisting multinational clients with their cross-border investments. Milbank provides a full range of services to many of the world’s leading financial, industrial and commercial enterprises, as well as governments, institutions and individuals.