Appleby advised China Success Finance Group Holdings Limited on its Hong Kong Listing
19 Nov, 2013
Leading offshore firm Appleby acted as Cayman counsel for China Success Finance Group Holdings Limited in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 13 November 2013, with gross proceeds of approximately HK$268 million (approximately US$34.36 million) and net proceeds of HK$216.3 million (assuming that the over-allotment option is not exercised).
The group will use the majority of the net proceeds from the global offering to expand its financial capability by increasing its net asset value, registered capital or paid-up capital. The remainder will be used to pursue potential merger and acquisition opportunities within the industry to further expand its business and service offerings.
The Appleby team was led by Judy Lee (pictured), a Corporate Partner in Appleby’s Hong Kong office, assisted by Associate, Jo Lit. Loeb & Loeb advised the company as to Hong Kong law, while Commerce & Finance Law Offices advised as to PRC law. Chiu & Partners advised the sponsors and underwriters as to Hong Kong law, while Jingtian & Gongcheng advised as to PRC law.