Appleby acted as Bermuda counsel for Kerry Logistics Network Limited (Kerry Logistics) in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 19 December 2013, with gross proceeds of approximately HK$2.2 billion.
Kerry Logistics will use majority of the net proceeds for funding capital expenditures in connection with future expansion and acquisition activities, part repayment of the loans from a fellow subsidiary, and the remaining portion for 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. Davis Polk &Wardwell advised the Company as to Hong Kong and US laws, and Tian Yuan Law Firm advised the Company as to PRC law. Deacons and Freshfields Bruckhaus Deringer advised the Underwriters as to Hong Kong law and US law, respectively, while Jia Yuan Law Offices advised the Underwriters as to PRC law.
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