June 9, 2023
Shardul Amarchand Mangaldas acted as the legal advisors as to Indian law to DXN Holdings Bhd. (“DXN”) on its initial public offering of up to 932,675,000 ordinary shares (“IPO”), in conjunction with the listing of and quotation for the entire enlarged issued ordinary shares of DXN on the Main Market of Bursa Malaysia Securities Berhad. The IPO comprised an offer for sale of up to 772,675,000 existing shares and a public issue of 160,000,000 new shares. The deal was valued more than USD 140 million.
DXN is a global health-oriented and wellness direct selling company. It has a portfolio of 327 stock keeping units of health-oriented and wellness consumer products that it manufactures in-house.
The capital markets team was led by Nikhil Naredi, Partner; Mubashshir Sarshar, Principal Associate; and Chinmay Sethia, Senior Associate.
The general corporate team was led by Anuj Bhasme, Partner; Avichal Mathur, Principal Associate; Hardik Thakker, Principal Associate; Apeksha Narula, Senior Associate; Anusha Chand, Associate; Aakash Rao, Associate; and Viraj Vaidya, Associate.
The employment team was led by Pooja Ramchandani, Partner; Suryansh Gupta, Senior Associate; and Harshita Arora, Associate.
The real estate team was led by Bhoumick Vaidya, Partner; Asmita Hegde, Associate; and Sona Phogaat, Associate.
Albar & Partners, Clifford Chance Pte. Ltd. advised DXN with respect to Malaysian law, United States federal securities law and English law aspects, respectively.
Adnan Sundra & Low and Allen & Overy LLP advised Maybank Investment Bank Berhad, CIMB Investment Bank Berhad, CLSA Limited, CLSA Securities Malaysia Sdn Bhd and RHB Investment Bank Berhad with respect to Malaysian law, United States federal securities law and English law aspects, respectively.
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