Appleby advised Dongpeng Holdings on its Hong Kong Listing
09 Dec, 2013
Appleby has acted as Cayman Islands counsel to Dongpeng Holdings Company Limited (Dongpeng) in connection with its listing on the Main Board of the Hong Kong Stock Exchange, with net proceeds of approximately HK$953.8 million.
Dongpeng will use the majority of the net proceeds for expanding and upgrading its production facilities, expanding its distribution network, setting up additional local sales management offices and opening of a new research and development centre.
The Appleby team was led by John Melia, a corporate & commercial partner in Appleby’s Hong Kong office, assisted by associates, Vincent Chan and Jo Lit. Chen & Associates and Wilson Sonsini Goodrich & Rosati advised the company as to Hong Kong and US law, while Simpson Thacher & Bartlett advised the underwriters as to Hong Kong and US law.
Dongpeng is the largest ceramic tile company in the PRC in terms of 2012 retail sales value. It is also the largest industry participant in the high-end ceramic tile segment with a market share of 9.77%, according to the F&S Report. Ceramic tile is the preferred choice of material used for interior decoration in China.
Picture: Hong Kong Stock Exchange