Appleby Advises On Multiple Hkex Listings
Law firm Appleby has had an active start to 2015 in the capital market sector, advising on three initial public offerings on the Hong Kong Stock Exchange [HKEx] in January, including the year’s first HKEx listing.
Appleby acted as Cayman counsel to Deson Construction International Holdings Limited [Deson Construction], Yat Sing Holdings Limited [Yat Sing] and SiS Mobile Holdings Limited [SiS Mobile] on their respective listings. Hong Kong-based Corporate Partner John Melia and Counsel Li-Lee Tan, assisted by associate Vincent Chan, handled the Deson Construction listing.
Judy Lee, a Corporate Partner in Hong Kong, led the Appleby team in handling Yat Sing and SiS Mobile’s listings, with assistance from Appleby Attorneys Chris Cheng, Jo Lit and Tiffy Wan.
In the first listing in Hong Kong in the new year, Appleby provided Cayman, Bermuda and BVI legal advice to Deson Construction in its spin-off from Deson Development International Holdings Limited [a Bermuda company with shares currently listed on the Main Board of HKEx] and listing of Deson Construction on the Growth Enterprise Market of HKEx on 8 January.
Deson Construction is principally engaged as a contractor in the building industry operating in Hong Kong and the PRC. The company is one of the top 10 contractors in Hong Kong providing building construction, electrical and mechanical engineering and fitting-out works.
Appleby also acted as Cayman counsel for Yat Sing, a Hong Kong building maintenance and renovation services provider, in its HKEx listing on 14 January. A majority of the proceeds from the offering will be used to renovate and convert buildings from industrial use to hotel use in Kwai Chung, Hong Kong.
In a second spin-off listing, Appleby acted as Cayman counsel to SiS Mobile in its split from parent company SiS International Holdings Limited [a Bermuda company with shares currently listed on the Main Board of HKEx] on the Main Board of the HKEx on 15 January. SiS Mobile is a distributor of mobile phones in Hong Kong with extensive local distribution channels and an authorised non-exclusive distributor of four internationally renowned brands of mobile phones.
A majority of the proceeds from the offering will be used for the acquisition of new office and warehouse space, as well as implementation of new systems to improve its operational management capability.
