Appleby Advised Cosmo Lady on its Hong Kong Listing

Appleby acted as Cayman counsel for Cosmo Lady (China) Holdings Limited (Cosmo Lady) in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 26 June, with gross proceeds of approximately HK$1.56 billion. Cosmo Lady will use the majority of the net proceeds from the global offering for expansion of its retail network, as well as establishment of three logistics centers in Dongguan, Tianjin and Chongqing in China.

The Appleby team was led by Judy Lee, a corporate partner in the Hong Kong office, assisted by Associate Jo Lit. Morgan Stanley Asia Limited and China International Capital Corporation Hong Kong Securities Limited were the sponsors and underwriters to Cosmo Lady. Simpson Thacher & Bartlett was the legal adviser to Cosmo Lady as to Hong Kong and US law, and Jingtian & Gongcheng advised Cosmo Lady as to PRC Law. Cleary Gottlieb Steen & Hamilton and Commerce & Finance Law Offices advised the underwriters as to Hong Kong and US, as well as PRC law, respectively.

Cosmo Lady is a major Chinese lingerie company, with Taiwanese model Lin Chi-ling as the company’s spokesperson. Cosmo Lady was the largest branded intimate wear enterprise in China in terms of both total retail sales and the number of retail outlets as 2013, according to a Frost & Sullivan Report.

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