Advised China Fordoo Holdings Limited (stock code: 2399) (“China Fordoo”) on subscription for new shares of China Fordoo by an investor at a total consideration of approximately HK$66 million. The 120,000,000 shares of China Fordoo subscribed represent approximately 5.42% of the issued share capital of China Fordoo as enlarged by the subscription. China Fordoo intends to use the net proceeds from the subscription for (i) future business development; and (ii) general working capital.
China Fordoo is a company listed on the Main Board of The Stock Exchange of Hong Kong Limited (stock code: 2399) and is principally engaged in (i) the sales of menswear apparel and brand licensing in the PRC; and (ii) the sales of industrial products to customers located in Saudi Arabia.
The deal was led by lead partners Ernest Chung and Stephen Kei of Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, and supported by the team members including Adrian Mak, Fiona Kam, Edwin Wong and Kelvin Yu.