Ogier in the British Virgin Islands (BVI) has advised DT Asia Investments Limited on its initial public offering of 6,000,000 units on Nasdaq, raising USD60 million.
DT Asia Investments Limited is a BVI incorporated special purpose acquisition company (SPAC) formed for the purposes of engaging in a business company with one or more businesses.
Whilst not limited to a particular industry or geographic region, the intention is that DT Asia Investments Limited will focus on businesses which have their primary operations located in Asia, with an emphasis on China.
Ogier acted with New York based firm Ellenoff Grossman & Schole as legal counsel to DT Asia Investments Limited, with New York based firm Graubard Miller acting for the underwriters, EarlyBirdCapital; Aegis Capital Corp; Ladenburg Thalmann; I-Bankers Securities; and Sidoti & Company. Simon Schilder (partner, BVI) led the Ogier team, assisted by Michael Killourhy (managing associate, BVI).
Schilder says: "We are delighted to have advised DT Asia Investments Limited on its IPO and wish them every success in identifying their business combination target. This IPO is yet another example of SPAC sponsors opting to utilise the BVI as the domicile for their listing vehicle, whether with a view to then seeking a listing in New York on Nasdaq or on the London Stock Exchange."
