DLA Piper has advised China Everbright Capital Limited and China Everbright Securities (HK) Limited, sole sponsor and sole lead manager, on the IPO of IGG Inc (IGG) on the GEM (Growth Enterprise Markets) Board of the Hong Kong Stock Exchange (stock code: 8002). The listing of 327,434,000 shares at a placing price of HK$2.80, together with the over-allocation during the bookbuilding process, raised more than HK$1 billion from the market.
IGG is an international online and mobile gaming company with its management in China, its base in Singapore and operations in the US, China and the Philippines. The company is an integrated development, service, support and distribution company in “next-generation” online gaming.
The listing was completed in seven months and is the largest sum of capital raised among the GEM companies in 2013 thus far.
Esther Leung, Partner at DLA Piper said: “It is unusual for a GEM IPO to raise as much as IGG has and we are pleased to have been part of an important step for IGG and such an interesting transaction for our long-standing client China Everbright”.
The team was led by Esther Leung and supported by Richard Lee, Senior Associate.
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