Appleby acted as Cayman counsel for Huaxi Holdings Company Limited (Huaxi Holdings) in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 6 December 2013, with gross proceeds of approximately HK$111 million.
Huaxi Holdings will use majority of the proceeds from the Offering for upgrading its existing production base, expansion of production capability and to increase its production capacity, as well as possible strategic acquisition of other market players in the same industry. The remaining proceeds will be used for research and development activities, sales and marketing activities, renovation of existing production facilities and office building, and general working capital.
The Appleby team was led by Judy Lee, a Corporate Partner in Appleby’s Hong Kong office, assisted by Senior Associate, Chris Cheng. Pang & Co. in association with Loeb & Loeb LLP advised the Company as to Hong Kong law and King & Wood Mallesons advised the Company as to PRC law, while F. Zimmern & Co and Commerce & Finance Law Offices advised the underwriters as to Hong Kong law and PRC law, respectively.
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