Appleby acted as Cayman counsel for Redco Properties Group Limited (Redco) in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 30 January 2014, with net proceeds of approximately HK$865 million.
Redco will use majority of the net proceeds from the Offering in paying the land premium for the land use rights of new property development projects. The remaining net proceeds will be used for working capital and other general corporate purposes.
The Appleby team was led by Judy Lee, a Corporate Partner in Appleby’s Hong Kong office, assisted by Associate, Jo Lit and Kate Li. Sidley Austin advised the Company as to Hong Kong law and King & Wood Mallesons advised the Company as to PRC Law, whilst Mayer Brown JSM and Jun He Law firm advised the underwriters as to Hong Kong and PRC laws, respectively.
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