Milbank LLP represented Opera Limited (Opera) in connection with its SEC-registered follow-on offering of 6,876,506 American depositary shares (ADSs), representing 13,753,012 ordinary shares of Opera. The ADSs were sold in a secondary offering by Keeneyes Future Holding Inc., an affiliate of Opera’s controlling shareholder, at US$12.25 per ADS for a total value of US$84 million. The offering was led by Citigroup and Goldman Sachs & Co. LLC, acting as lead bookrunning managers and representatives of the underwriters. The ADSs are listed on the Nasdaq Global Select Market under the symbol “OPRA."
Opera is a leading global internet brand, offering users around the globe a range of products and services that include a variety of PC and mobile browsers, gaming portals and development tools, news content recommendation products and audience extension products.
The Milbank team was led by Corporate Finance and Securities partner Alex Tao, with associates York Wu, Olivia Lin and Joshua Zhu. The team also included Tax partner Andrew Walker and Tax associate David Hanno, as well as Alternative Investments partner Catherine Leef Martin and special counsel Megha Kalbag who provided ’40 Act advice.
