Maples advised Chenghe Acquisition I Co. ("Chenghe Acquisition"), a Cayman Islands special purpose acquisition company ("SPAC"), on its business combination with Femco Steel Technology Co., Ltd. resulting in FST Ltd. becoming a US publicly listed company listed on Nasdaq. The transaction completed on 15 January 2025, and the combined entity is valued at US$400 million. Femco Steel Technology Co. specializes in the research, development and production of high quality golf shafts and equipment.
A team of lawyers from the firm's Hong Kong Corporate practice acted as Cayman Islands counsel to Chenghe Acquisition and was led by Matt Roberts, Partner and head of the Asia Corporate practice, with assistance from Of Counsel Jessica Zhan and Legal Manager Clare Tsang. White & Case acted as US legal counsel to Chenghe Acquisition. KPMG Law Firm acted as Taiwan counsel and Ross Law Group, PLLC, acted as US counsel to Femco Steel Technology Co., Ltd.