Hong Kong: Appleby Acted On Three HKEX Listings In September
Last Updated: 1 October 2016

Appleby acted as Cayman counsel to three listings on the Main Board of the Hong Kong Stock Exchange. Appleby acted for Ausupreme International Holdings Limited (Ausupreme) and CROSSTEC Group Holdings Limited (CROSSTEC) in their listings on 12 September, and Shun Wo Group Holdings Limited (Shun Wo) in its listing on 28 September. The aggregate amount raised for the three listings was approximately HK$323 million.

Judy Lee, a corporate partner in Appleby's Hong Kong office, led all three transactions with the assistance of Counsel Jo Lit and Associate Yorkie Au-Yeung, as well as Legal Manager Robert Sit. Christine M. Koo & Ip was the Hong Kong legal adviser to Ausupreme, while Hastings & Co. acted as Hong Kong counsel to the sponsors and underwriters. Wilson Sonsini Goodrich & Rosati served as Hong Kong legal counsel to CROSSTEC, and Nixon Peabody CWL was the Hong Kong legal counsel to the sponsors and underwriters. David Fong & Co. acted for Shun Wo with respect to Hong Kong law, while Loeb & Loeb was the Hong Kong legal counsel to the sponsors and underwriters.

Ausupreme is a Hong Kong-based retailer of health and personal care products, and the majority of the proceeds from the offering will be used to further develop and strengthen its brand, explore business collaboration and expand its customer base, and diversify and expand its product portfolio.

CROSSTEC is a Hong Kong-based interior design solutions, and the majority of its clients are global luxury goods and high-end fashion brands with retail stores across the world. The company will use the majority of its proceeds to raise funds to leverage overseas expansion, strengthen its corporate image, enhance operating systems and risk management, and increase its commitment to employees.

Shun Wo is a contractor of foundation works in Hong Kong. The majority of the company's proceeds will be used to enhance machinery and increase its overall efficiency technical capability in performing foundation work.

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