Appleby acts as Cayman counsel for Magnum in relation to its listing on SEHK

Appleby has acted as Cayman counsel for Magnum Entertainment Group Holdings in relation to its listing on the Main Board of the Hong Kong Stock Exchange (SEHK) on 23 January 2014, with gross proceeds of approximately HKD126m (£10m).

Magnum, which has three clubbing venues located in the Lan Kwai Fong area, will use the majority of the net proceeds from the offering as the opening costs for Zentral (a club expected to be opened in 2014) and for marketing purposes.

The remaining net proceeds will be used for research for expansion plans outside Hong Kong, additional working capital and other general corporate purposes.

The Appleby team was led by Judy Lee, a corporate partner in Appleby’s Hong Kong office, who was assisted by senior associate Chris Cheng. Li & Partners advised the company as to Hong Kong law and DLA Piper Hong Kong advised the underwriters as to Hong Kong law.

This content was originally sourced from the Appleby website.

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