Appleby acted as Cayman counsel for Bolina Holding Co. Limited in relation to its listing on the Main Board of the HKSE by way of a global offering on 13 July 2012.
The gross proceeds of the offering were approximately HK$451.5 million. A majority of the proceeds from the global offering will be used primarily for construction of production facilities.
The Appleby team was led by Judy Lee, a Corporate Partner in Appleby’s Hong Kong office, assisted by Associate Julia Tam. Stephenson Harwood, Troutman Sanders and Jingtian & Gongcheng advised the company as to Hong Kong, US and PRC law respectively. CCB International Capital Limited acted as the sole sponsor for this listing, where Herbert Smith advised them as to Hong Kong and US law and Commerce & Finance Law Offices as to PRC law.
Bolina Holding Co., Limited and its subsidiaries (together, the “Group”) are principally engaged in the design, development, production, marketing and distribution of sanitary ware branded products marketed under its own brand in the PRC and under third parties’ brands to its international customers. According to Frost & Sullivan, the Group was the second largest domestic ceramic sanitary ware brand in China’s mid-to-high end ceramic sanitary ware market in terms of retail sales value in 2011.
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