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Leading offshore law firm Appleby acted as Cayman counsel for LEAP Holdings Group Limited (LEAP Holdings) in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 2 September, with gross proceeds of approximately HK$143 million. LEAP Holdings is the third foundations company Appleby has assisted with its HKEx listing within the last month.
Judy Lee (pictured), a corporate partner in Appleby’s Hong Kong office led the transaction, assisted by Senior Associate Chris Cheng. Loong & Yeung acted as Hong Kong legal adviser to LEAP Holdings whilst D.S. Cheung & Co. is the legal adviser to the sponsor and underwriters as to Hong Kong law.
LEAP Holdings will use the majority of the net proceeds from the offering to acquire machinery and equipment, strengthen its workforce, and repay outstanding bank loans, as well as for general working capital.
LEAP Holdings is principally engaged in foundation works, ancillary services and construction waste handling at public fill reception facilities managed by the Government in Hong Kong.
