Appleby acted as Cayman counsel for Ngai Shun Holdings Limited (“the Company”) in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 16 October 2013, with gross proceeds of approximately HK$109 million.
The Company will use the majority of the net proceeds from the offering for the acquisition of additional overseas manufactured machinery and equipment including air compressors, drilling rigs, vibrator hammers, automatic grouting stations and other related accessory equipment for foundation works. The remainder will be used for the hiring of additional staff, the partial repayment of bank loans for the planned acquisition of machinery, and for working capital of the Group.
The Appleby team was led by Judy Lee, a Corporate Partner in Appleby’s Hong Kong office, assisted by Senior Associate, Chris Cheng. Loong & Yeung Solicitors advised the Company as to Hong Kong law, while Jun He Law Offices advised the sponsor, Ample Capital Limited, and the underwriters as to Hong Kong law.
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