Appleby acted as Cayman Islands counsel for Swang Chai Chuan Limited雙財莊有限公司 (Swang Chai Chuan) on its listing on the Main Board of the Hong Kong Stock Exchange on 19 August 2022, with gross proceeds of approximately HKD135 million.

The Hong Kong team was led by Judy Lee, Asia Group Head, Partner, assisted by Legal Manager, Minnie Choi and Legal Executive, Connie Wu.

The Swang Chai Chuan Group is an established distributor of food and beverage and other products for recognised international and domestic third-party brands, and under its own brands in Peninsular Malaysia. It serves a wide group of retail chains and channels in Peninsular Malaysia ranging from hypermarkets and supermarkets, provision shops, convenience stores and kiosks, hotels, restaurants, cafe, bars, school canteens, bakery ingredients shops, F&B dealers and merchandisers.

The Company intends to apply the net proceeds from the Global Offering to further enhance the Group's distribution and sales capabilities by investing in cold chain and other infrastructure. The proceeds will also be used to develop the Group's own products business by acquiring new processing machines and conducting marketing and promotional activities, to develop e-commerce business by launching a mobile application, for strategic acquisitions and investments along the Group's supply value chain and for general working capital.

Our Hong Kong Capital Markets team is highly regarded for their extensive expertise in supporting offshore companies with IPOs, introductions, placements and listings of both equity and debt securities on the Hong Kong, US, Singapore and many other internationally recognised stock exchanges.