Appleby acted as Cayman counsel for Hin Sang Group (International) Holdings Co. Ltd. (Hin Sang) in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 16 October 2014, with gross proceeds of approximately HK$240 million. This offering is approximately 860 times oversubscribed, ranking the 5th among all oversubscription listings in Hong Kong in 2014, as of today.
Hin Sang will use the majority of the net proceeds from this offering to explore business collaboration opportunities with new brand proprietors and to expand its sales and distribution network. The remaining proceeds will be used to enhance marketing and promotion activities in China, to expand the product portfolio and for general working capital.
The Appleby team was led by Judy Lee, a corporate partner in the Hong Kong office, assisted by senior associate Chris Cheng. Both Hastings & Co. and Chak & Associates advised Hin Sang as to Hong Kong law, and Zhong Lun Law Firm advised the company as to PRC Law. TIPLO Attorneys-at-Law was the legal advisor of Hin Sang as to Taiwan law while TC & Co. was the legal advisor of the sponsors and underwriters.
Hin Sang is principally engaged in developing, marketing, selling and distributing a wide variety of personal care products, health care products and household products under various brands. Business operations are mainly based in Hong Kong, and the company has appointed distributors to help sell and distribute its products in the PRC, Taiwan and Macau.
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