Appleby advises Fu Shou Yuan on Hong Kong Stock Exchange listing
Appleby has acted as Cayman counsel for Fu Shou Yuan International Group in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 19 December 2013, with net proceeds of approximately HK$1.46bn (£115m).
Fu Shou Yuan will use majority of the proceeds from the offering to acquire land for the development and construction of new cemeteries. The remaining proceeds will be used for setting up new funeral facilities in the PRC, expansion of its sales network, mergers and acquisitions, working capital and other general corporate purposes.
The Appleby team was led by Judy Lee, a corporate partner in the firm’s Hong Kong office, assisted by associate Jo Lit.
Shearman & Sterling advised the company as to both Hong Kong and US law and Watson & Band Law Offices advised the company as to PRC law, while Paul Hastings and Jingtian & Gongcheng advised the underwriters as to Hong Kong law and PRC law respectively.
Citigroup Global Markets Asia is the sole sponsor and global co-ordinator of the initial public offering.
This information was originally sourced from the Appleby website.
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