Appleby's Hong Kong office acted as Cayman Islands and British Virgin Islands (BVI) counsel to China Tianbao Group Development Company Limited (stock code: 1427) in relation to its global offering and listing on the Main Board of the Hong Kong Stock Exchange on 11 November 2019.
The team was led by Counsel Vincent Chan and assisted by Associate Huiyan Liew of Appleby's Hong Kong office.
The company is a property developer and construction company based in Zhuozhou, a city in Hebei Province, China. The Group engages in a wide range of property development activities, such as planning and design, construction, and property sales, investment and operations.
The net proceeds from the global offering will be used for increasing land reserves by seeking and acquiring land parcels in cities in the Beijing–Tianjin-Hebei region, to further expand property development business into cultural-tourism properties and healthcare properties, funding the construction of property projects under development, funding construction projects in backlog and for working capital and general corporate purposes.
Vincent Chan commented: "We are proud of our position as a leading specialist in Hong Kong and Asia for offshore initial public offerings, which continues to be strengthened by our involvement in significant regional and international transactions."
Appleby's listing team is highly regarded for their expertise in supporting initial public offerings, introductions, placements and subsequent listings of both equity and debt securities of Cayman Islands, Bermuda and BVI companies on the world's major exchanges.