New York leader Simpson Thacher & Bartlett has closed the $1.55bn (£934m) New York offering of public shares in Taiwanese client Chunghwa Telecom in one of the largest initial public offerings (IPOs) of 2003.

The deal saw Chunghwa, the Taiwan-based telecoms service provider, offer US depository shares on the New York Stock Exchange (NYSE) as part of the on-going privatisation of the company.