Appleby acted as Bermuda counsel for China LotSynergy Holdings Limited (China LotSynergy) on its issuance of an aggregate HK$650 million 5% convertible bonds due 2019. The net proceeds from the subscription of the convertible bonds will be used for financing working capital and general corporate purposes.
The Appleby team was led by Judy Lee, a corporate partner in Appleby’s Hong Kong office, assisted by Senior Associate Chris Cheng. Baker & McKenzie advised China LotSynergy as to Hong Kong and English laws, and Hylands Law Firm advised the company as to PRC Law. Linklaters and King & Wood Mallesons advised the underwriters as to English and PRC laws, respectively.
China LotSynergy is one of the leading technology and operation services providers in the PRC lottery industry. The company principally engages in the manufacture and provision of lottery terminal equipment, the development and provision of lottery systems and lottery games as well as the distribution of computer tickets games lottery products through telephone and mobile platforms.
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