Acted as Cayman Islands counsel to Autostreets Development Limited ("Autostreets") in relation to its initial public offering of 15,000,000 shares and the listing on the Hong Kong Stock Exchange. Established in 2014, Autostreets is China's largest used vehicle transaction service provider in terms of transaction volume and has been committed to transforming China's used vehicle transaction process and driving China's used vehicle industry toward standardization, efficiency and transparency. The offering, which closed on 31 May 2024, raised approximately HK$168 million. The Maples team comprised of partner Derrick Kan and legal manager Sarena Gong. The Group's Fund Services business acted as the Cayman Islands Share Registrar, and the team comprised Eastern Fong, Regional Head of the Group's fund services business in Asia and senior vice president Christy Poon. Autostreets was also advised by Cleary Gottlieb Steen & Hamilton as to Hong Kong law, and Zhong Lun Law Firm as to PRC law. The sponsors CITIC Securities (Hong Kong) Limited and Haitong International Capital Limited and among others, were advised by Paul Hastings as to Hong Kong law, and by Jingtian & Gongcheng as to PRC law.
PRESS RELEASE
6 June 2024
Autostreets Development Limited - HKIPO – Closed On 31 May 2024
Maples Group
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The Maples Group is a leading service provider offering clients a comprehensive range of legal services on the laws of the British Virgin Islands, the Cayman Islands, Ireland, Jersey and Luxembourg, and is an independent provider of fiduciary, fund services, regulatory and compliance, and entity formation and management services.
Acted as Cayman Islands counsel to Autostreets Development Limited ("Autostreets") in relation to its initial public offering of 15,000,000 shares and the listing on the Hong Kong Stock Exchange.