Appleby advises Oi Wah Pawnshop Credit Holdings on stock exchange listing
Appleby has acted as Cayman counsel for Oi Wah Pawnshop Credit Holdings in relation to its listing on the Main Board of the Hong Kong Stock Exchange with gross proceeds of approximately HKD98m (£8.5m).
Oi Wah is a financing service provider in Hong Kong. It provides short-term secured financing, including pawn loans and mortgage loans.
The majority of the proceeds from the offering will be used for expanding the company’s mortgage loan portfolio and broadening its customer base. Other proceeds from the offering will be used for expanding its pawn loan portfolio and establishing a new customer service centre.
The Appleby team was led by Judy Lee, a corporate partner in Appleby’s Hong Kong office, assisted by associates Chris Cheng and Jo Lit. Pang & Co (in association with Loeb & Loeb) advised the company with regards to Hong Kong law. Cinda International Capital acted as the sole sponsor, with Deacons advising the company with regards to Hong Kong law.
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