Appleby is pleased to announce that it has acted as Cayman Islands counsel for MASTERBEEF GROUP ("Company", together with its subsidiaries, the "Group") in relation to its listing on Nasdaq Capital Market under the symbol "MB" on 10 April 2025, with gross proceeds of approximately US$8 million.
The Group is the only Hong Kong restaurant brand to have successfully listed on the Nasdaq in the past one year. The Appleby team was led by Chris Cheng, a Partner to the Appleby's Hong Kong office, and assisted by Legal Executive, Connie Wu.
The Group is a leading full-service restaurant group in Hong Kong, specialising in Taiwanese hotpot and Taiwanese barbecue. Through its Hong Kong operating subsidiaries, it currently manages 12 restaurant outlets under its Master Beef and Anping Grill brands. The Company plans to utilise its IPO proceeds strategically, with 60% dedicated to expanding its restaurant network through new outlets and franchising in Hong Kong and Southeast Asia.
Appleby's Hong Kong Capital Markets team excels in providing listing services, offering expertise in guiding offshore companies through IPOs, introductions, placements, and listings of equity and debt securities on globally recognised stock exchanges including those in Hong Kong, the US and Singapore.