Sino-Forest Completes $379.5M Bought Deal Offering

On June 8, 2009, Sino-Forest Corporation, a leading commercial forest plantation operator in China, completed an offering, on a “bought deal” basis, of 34.5 million common shares at a price of $11.00 per common share for gross proceeds of $379.5 million. The offering included the exercise in full of the over-allotment option by the underwriters to purchase 4.5 million common shares. The common shares were issued pursuant to a short form prospectus dated June 1, 2009. In addition to the offering in Canada, a portion of the offering was sold on a private placement basis in the United States, Asia and elsewhere.

Sino-Forest Corporation was represented in Canada by Aird & Berlis LLP, with a team that included Richard Kimel and Susan Pak (corporate and securities) and Barbara Worndl (tax).

Sino-Forest Corporation was represented in the United States and Hong Kong by Linklaters LLP, with a team that included Hyung Ahn, Jeffrey Cohen, Xavier Amadei and Grace Avedissian (corporate and securities).

Credit Suisse Securities (Canada) Inc., Dundee Securities Corporation and the syndicate of underwriters were represented in Canada by Stikeman Elliott LLP, with a team that included Jeffrey Singer, Jeffrey Elliott, Alethea Au and Elise Lenser (corporate and securities), and in the United States and Hong Kong by Davis Polk & Wardwell LLP, with a team that included William F. Barron and Gerhard Radtke (corporate and securities).

The offering was co-led by Credit Suisse Securities (Canada) Inc. and Dundee Securities Corporation with an underwriting syndicate comprised of Merrill Lynch Canada Inc., Scotia Capital Inc. and TD Securities Inc.