Appleby acted as Cayman counsel for Landrich Holding Limited (Landrich) in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 20 October 2020 with gross proceeds of approximately HKD130 million.
Landrich is a contractor with a long history of undertaking construction work in Hong Kong. The company has a solid track record in the construction industry in Hong Kong having started its business in 1993 and is able to undertake civil engineering works as either a main contractor or a subcontractor.
Landrich intends to apply the net proceeds from the Share Offer:
- to finance three existing main contractor projects;
- to acquire machinery and equipment to upgrade and enlarge its fleet of machinery, as well as to facilitate its current operations;
- to form a new project management team and strengthen manpower for its headquarters;
- to upgrade its enterprise information system;
- to enhance innovation and productivity; and
- for the general working capital of its Group.
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.