Appleby acted as Cayman counsel for Sheen Tai Holdings Group Company Limited in relation to its listing on the Main Board of the HKSE on 13 July 2012.
The gross proceeds of the offering were approximately HK$168 million. The proceeds will be used for strategic acquisition, expansion of market share and for strengthening Sheen Tai Holdings Group’s product development.
The Appleby team was led by Judy Lee, a Corporate Partner in Appleby’s Hong Kong office, assisted by Associate Chris Cheng. Loong & Yeung and Jingtian & Gongcheng advised the Company as to Hong Kong and PRC law, respectively. Haitong International Capital Limited acted as the sole sponsor for this listing exercise with Leung & Lau and Dacheng Law Offices advising the sole sponsor as to Hong Kong and PRC law, respectively.
About the company
Sheen Tai Holdings Group Company Limited is a cigarette packaging materials manufacturer and supplier in the PRC with a leading position in Jiangsu Province, PRC. According to Euromonitor Report, the Group was ranked second in overall cigarette packaging materials market in Jiangsu Province in 2011 with a market share of approximately 18.8% in terms of sales value.
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