SINGAPORE, 12 April 2024 — On 2 April 2024, MAS introduced amendments to the Payment Services Act 2019 of Singapore (PS Act) and its subsidiary legislation. Generally, these amendments seek to (1) expand the scope of payment services regulated by MAS which will take effect from 4 April 2024 and (2) impose user protection requirements on digital payment token (DPT) service providers which will take effect from 4 October 2024.
In a recent announcement, Asia Pacific Business revealed the winners of their Asia Pacific Business Awards 2023-2024. Gerard A. Hekker, Partner of Duane Morris & Selvam LLP and Dr Nguyen Thi Lang, Chairperson of Duane Morris Vietnam were both awarded Asia Pacific Legal Advisor of the Year. This recognition celebrates their exceptional contributions and commitment to the region’s business landscape. Continue reading “Asia Pacific Business Awards 2023-2024”
SINGAPORE, 10 April 2024 – Duane Morris & Selvam LLP acted as special international legal counsel to Ambit Private Limited and Avendus Capital Private Limited in their role as the book running lead managers on the recent qualified institutions placement of ₹6,000 million (USD 72 million) of equity shares of The Karnataka Bank Limited.
The Karnataka Bank Limited, with over 100 years of existence, is one of the well-established private sector banks in India, offering wide range of banking products and services to approximately 12.93 million customers as of December 31, 2023, including corporate, retail, agriculture and MSME customers.
Continue reading “Duane Morris & Selvam Advises on the QIP of The Karnataka Bank Limited”
SINGAPORE, 8 April 2024 – Duane Morris & Selvam LLP acted as special international legal counsel to DAM Capital Advisors Limited in its role as the book running lead manager on the recent qualified institutions placement of ₹4,800.40 million (USD 58 million) of equity shares of Wockhardt Limited.
Wockhardt Limited is engaged in the research and development, manufacture and distribution of pure and branded generics, vaccines, biosimilars, active pharmaceutical ingredients as well as new chemical entity antibiotics targeting antimicrobial resistance.
Continue reading “Duane Morris & Selvam Advises on the QIP of Wockhardt Limited”
SINGAPORE, 4 March 2024 – Duane Morris & Selvam LLP is pleased to announce the appointment of director Clement Tan as the Head of its White Collar and Investigations practice.
Clement is a dispute resolution lawyer and he brings a wealth of experience to the role, having served as a distinguished District Judge in the State Courts of Singapore where he presided over an extensive range of civil and criminal cases. He has experience navigating high-stakes litigation, corporate commercial disputes, and has represented clients at all levels of the Singapore judicial system and arbitrations. His experience encompasses matters including white collar crime, employment disputes, minority oppression cases, contractual disputes, defamation claims and construction cases.
SINGAPORE, 27 February 2024 — Duane Morris & Selvam LLP acted as international legal counsel to Axis Capital Ltd., ICICI Securities Limited, and SBI Capital Markets, the book running lead managers, on the offer and sale of approximately INR 5,700 million (US$ 69 million) of equity shares in Jana Small Finance Bank Limited in an initial public offering in India and concurrent private placements outside India.
SINGAPORE, 18 December 2023 — Duane Morris & Selvam LLP acted as international legal counsel to Avendus Capital in its role as the sole advisor and Spark Institutional Equities in its role as the sole broker on the recently concluded stake sale of approximately INR 27 billion (USD 325 million) of equity shares in Computer Age Management Services Limited by Great Terrain Investment Ltd (an affiliate of Warburg Pincus LLC). Computer Age Management Services Limited is an India-based technology company focused on the capital markets, and banking, financial services and insurance (BFSI).
SINGAPORE, 14 December 2023 — Duane Morris & Selvam LLP acted as the special international counsel to Systematix Corporate Services Limited, Axis Capital Limited and ICICI Securities Limited in their capacity as the book running lead managers on Jupiter Wagon’s Limited’s recent INR 4,034 million (US$48.6 million) qualified institutions placement of its equity shares.
SINGAPORE, 13 December 2023 — Duane Morris & Selvam LLP acted as special international legal counsel to Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and ICICI Securities Limited in their role as the book running lead managers for the recent INR 5.01 billion (US$60 million) initial public offering of equity shares in Gandhar Oil Refinery (India) Limited, an Indian company that is a leading manufacturer of white oils. The equity shares were listed on the BSE and the NSE.
Continue reading “Duane Morris & Selvam Advises on Gandhar Oil Refinery’s INR 5.01 Billion IPO”
SINGAPORE, 11 December 2023 — Duane Morris & Selvam LLP acted as special international legal counsel to Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and Axis Capital Limited in their role as the book running lead managers for the recent INR 5.93 billion (US$71 million) initial public offering of equity shares in Flair Writing Limited, an Indian company that designs and manufactures writing instruments. The equity shares were listed on the BSE and the NSE. Continue reading “Duane Morris & Selvam Advises on Flair Writing Limited’s INR 5.93 Billion IPO”
