Equity Capital Raising Equity Restructuring

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					Company Overview                                                                       November 2008

CLSA Asia-Pacific Markets (‘CLSA’) is the leading independent brokerage and investment
group in Asia. The company provides equity research, broking, investment banking, capital
markets and asset management services to global corporate and institutional clients.

Business Focus
• Equity Broking                                              • Investment Banking & Equity Capital Markets
  CLSA is one of the longest running independent                Since the early 1990’s CLSA's investment banking and
  brokerages in Asia and one of the world’s largest             ECM group has helped Asian corporations drive
  agency brokers. CLSA has direct access to 80 global           shareholder value through the corporate structuring of
  equity markets through its combined exchange                  small to mid-cap public and private companies.
  memberships with Calyon Capital Markets.                      Our deals have raised more than US$91 billion
  CLSA Alternative Equity Products provides listed and          for clients through IPO's, underwritten secondary
  over-the-counter (‘OTC’) derivatives distribution.            placements, GDR's, Euro-convertible bonds, advisory,
  Products include futures and options broking, price           M&A, listing transfers, private-equity capital raising,
  return swap distribution, equity swaps, OTC equity            equity convertibles, debt restructuring and workout.
  derivatives broking and a certificate programme for           From January 2002 to August 2008, CLSA has
  fully funded, long only access to restricted markets.         managed 240 equity transactions in Asia, 115
  In China, CLSA’s joint venture China Euro Securities          involving companies in Greater China.
  Limited (‘CESL’) was the first Sino-foreign joint             Located in Shanghai, CESL provides equities
  venture established under the new regulations                 underwriting, equity-linked and debt securities
  introduced by the China Securities Regulatory                 including A-shares, B-shares, CBs, T Bonds and
  Commission in 2002. In June 2008, CESL became the             corporate bonds. On 31 August 2007, CESL was rated
  first Sino-foreign joint venture securities firm to be        "innovative" by the Securities Association of China
  granted a Securities Broking Licence enabling CESL to         (‘SAC’), the highest rating of four possible categories.
  trade A shares, in addition to B shares.
                                                                Established in 2000, CLSA’s India investment banking
  Established in 1994, CLSA is the number one                   group provides Indian and foreign firms M&A advisory,
  brokerage in India, with the highest market share of          lead equity transactions and public offerings. In
  foreign flows.    In Japan, CLSA is represented by            addition, CLSA is aligned with SBI Capital Markets Ltd.,
  Calyon Securities and began operations in 2003.               the investment banking subsidiary of the State Bank of
  Our clients have access to the Australian market              India. The alliance combines SBI’s on-the-ground
  through CLSA’s remote access membership, granted              presence with CLSA’s global distribution capabilities,
  by the Australian Stock Exchange in September 2007.           Indian ECM experience and award-winning research.

  In May 2008, CLSA launched BlocSec, the first Asian           In the Philippines, CLSA Exchange Capital was
  dark-pool to enable both the buy-side and sell-side to        established in 2001 and is the leading underwriter of
  trade blocks of Asian equities anonymously.                   equity and equity-linked securities for Philippine
• Equity Research
                                                              • Asset Management (CLSA Capital Partners)
  CLSA has been ranked the top equity research house
  in Asia by institutional investors for the past 16 years.     Since 1995, CLSA has offered alternative asset
                                                                management through ten Asia-focused funds managed
  The company is renowned for its independent thematic          by CLSA Capital Partners.
  research, economic analysis and equity strategy and is
  regularly quoted by global media.                             This private equity group leverages CLSA’s economic
                                                                and strategic analysis to invest into private and listed
  More than 50 research products are available to clients       Asian companies focused on long term economic
  on a daily, weekly and monthly basis. Many, such as           trends in clean resources, energy, domestic growth,
  GREED & fear by Equity Strategist Christopher Wood,           property and transport.
  have a loyal global following. CLSA Books publishes
  titles annually.                                              • Approximately US$2.5 billion funds under
                                                                  management in ten pan-Asian funds:
  •   Number   of   analysts: 136
                                                                       Alcor Investment (hedge)
  •   Number   of   companies covered: 1,200
                                                                       Aria Investment Partner (private equity)
  •   Number   of   sectors covered: 12
                                                                       Clean Resources Asia (hedge)
  •   Number   of   Asian economies covered: 12
                                                                       Clean Resources Asia Long Only (equity)
  Awards - 2008                                                        Clean Water Asia (hedge)
  • No.1 Overall Combined Research & Sales (ex-Aus &                   Clean Water Asia Long Only (equity)
    ex-Japan), Asiamoney Brokers Poll 2008                             CLSA Sunrise Capital (private equity)
  • No.1 Overall Research (ex-Aus & ex-Japan),                         Fudo Capital (private equity)
    Asiamoney Brokers Poll 2008                                        MezzAsia Capital (mezzanine)
  • No.1 Best Strategist in Asia, Christopher Wood,                    Pacific Transportation (private equity)
    Asiamoney Brokers Poll 2008
Company Overview cont.                                                               November 2008
Investor Forums                                                Group Management
CLSA is renowned in Asia for its annual Investor Forums        CLSA’s major shareholder is France’s Credit Agricole, which
which attract more than 2,500 global institutional             merged in 2003 with Credit Lyonnais, to form by Tier-One
investors from 30 countries. CLSA provides investors           Capital the 7th largest bank in the world and the 3rd largest
access to CEO and senior executives of Asia’s most active      bank in Europe. CLSA Staff and management contribute to
public companies as well as global thought leaders whose       CLSA’s independent operations through 35% ownership.
influence shapes the Asian investment landscape. Past
                                                               •   Chairman: Rob Morrison
guest speakers have included Bill Clinton, Bob Geldof, Al
Gore, Alan Greenspan, Nelson Mandela, Archbishop               •   Chairman of China & Vice Chairman of Asia: Changgen
Desmond Tutu and Lee Kuan Yew.                                     (‘CG’) Wu
                                                               •   Chief Executive Officer: Jonathan Slone
CLSA University                                                •   Chief Operating Officer: Andrew Reynolds
CLSA’s executive style education programme for top-tier        •   Co-Head of Broking (Research & Client Management):
investors provides direct access to industry experts who           Dr. Edmund Bradley
cover current and topical themes impacting Asia.
Designed as a high-level knowledge exchange, the               •   Co-Head of Broking (Sales & Trading): Mike Alexander
syllabus tracks the latest developments in the region and      •   Global Head of Sales Trading: Jeremy Norris
provides clarity to foreign investors. More than 50            •   Co-Head of Investment Banking (ECM): Richard Taylor
courses are offered in 12 countries each year and more         •   Co-Head of Investment Banking (M&A): Chris Brooks
than 1,000 clients participate annually.                       •   Executive Chairman, CLSA Capital Partners:
Clean & Green                                                      Richard Pyvis
                                                               •   Chief Executive Officer, CLSA Capital Partners:
CLSA is committed to raising awareness of climate
                                                                   Christopher Seaver
change among the public, investors and regulators and
has initiated creative and concrete measures to reduce         •   Group Counsel: Ross Long
the company’s own carbon footprint.
                                                               Our Presence
CLSA issues regular reports on the environment and             CLSA is headquartered in Hong Kong, and is represented in
CLSA Capital Partners invests into companies that              14 countries, 10 of which are in Asia. A staff of more than
support      resource    efficiency  and   environmental       1,500 supports our clients from 18 locations:
technology. CLSA has received regional ISO 14001
                                                                   •   China: Beijing, Hong Kong, Shanghai, Shenzhen
certification and has a published environmental policy.
                                                                   •   India: Mumbai, Pune
CLSA Community                                                     •   Indonesia: Jakarta
CLSA is actively involved in regional and local initiatives        •   Japan: Tokyo
that support the environment, education, medical and               •   Korea: Seoul
relief aid in Asia.                                                •   Malaysia: Kuala Lumpur
                                                                   •   Mauritius: Port Louis
CLSA’s Community Outreach programme mobilises CLSA
                                                                   •   Philippines: Manila
staff to participate in local community activities where
physical support is required such as the Hong Kong Beach           •   Singapore
Clean Up and Crossroads International.                             •   Taiwan: Taipei
                                                                   •   Thailand: Bangkok
The CLSA Chairman’s Trust was established in November              •   United Arab Emirates: Dubai
2006 in memory of CLSA’s first two chairmen Jim Walker             •   United Kingdom: London
and Gary Coull. The Trust distributes funds raised from
                                                                   •   United States of America: New York
an annual CLSA Dealing Day to qualified projects.
CLSA is a sponsor of the Clinton Global Initiative (‘CGI’)     Key Facts
meetings, which bring together global leaders to devise        •   Official marketing name:
and implement innovative solutions to some of the
                                                                   “CLSA Asia-Pacific Markets”
world’s most pressing challenges. The first CGI Asia
meeting will be held in Hong Kong in December 2008.            •   Official company description:

Brief History                                                      “CLSA Asia-Pacific Markets, Asia’s leading
•   1986 CLSA Group founded by Jim Walker as Winfull               independent brokerage and investment group.”
    Laing & Cruickshank Securities Limited a 50-50 JV of the
    Woo Hon Fai Family and Alexander Laing & Cruickshank       •   Global headquarters: Hong Kong
•   1987 Credit Lyonnais S.A. acquired Alexander Laing &       •   Represented in 14 countries, 10 in Asia
•   1988 Winfull Laing & Cruickshank Securities Ltd.           •   18 office locations world wide, 14 in Asia
    renamed CL-Winfull Laing & Cruickshank Securities Ltd.     •   Supports 1,300 institutional clients globally
    and later CL Alexander Laing & Cruickshank (HK) Ltd.
•   1989 CLSA Group takes over Credit Lyonnais S.A.'s          •   Number of permanent staff: 1,500
    Asian stock broking arm, CL Astaire Asia Ltd.              •   Shareholders: Credit Agricole 65%, CLSA staff 35%
•   1989 CL Alexander Laing & Cruickshank (HK) Ltd.
    renamed Credit Lyonnais Securities (Asia) Ltd.             •   Commenced operations in 1986
•   1990 CLSA Group became a wholly-owned subsidiary of
    Credit Lyonnais S.A                                        Contact Us
                                                               •   Global website: www.clsa.com
                                                               •   Email: info@clsa.com

Description: Equity Capital Raising Equity Restructuring document sample