Appleby advises Ngai Shun Holdings on Hong Kong Stock Exchange listing
Appleby has acted as Cayman counsel for Ngai Shun Holdings in relation to its listing on the main board of the Hong Kong Stock Exchange on 16 October 2013, with gross proceeds of approximately HKD109m (£9m).
The Appleby team was led by Judy Lee, a corporate partner in the law firm’s Hong Kong office, assisted by senior associate Chris Cheng.
Ngai Shun Holdings will use the majority of the net proceeds from the offering for the acquisition of additional overseas-manufactured machinery and equipment including air compressors, drilling rigs, vibrator hammers, automatic grouting stations and other related accessory equipment for foundation works.
The remainder will be used for the hiring of additional staff, for the partial repayment of bank loans for the planned acquisition of machinery and for working capital of the group.
Loong & Yeung Solicitors advised Ngai Shun Holdings as to Hong Kong law, while Jun He Law Offices advised the sponsor, Ample Capital, and the underwriters as to Hong Kong law.
This content was originally sourced from the Appleby website.
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