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Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong,, as the Hong Kong legal advisers for Holly Futures Futures Co., Ltd. (“Holly Futures”), advised Holly Futures in its initial public offering of shares (A shares) (“A Share Offering”) on the Shenzhen Stock Exchange (“Shenzhen Stock Exchange”). Holly Futures was officially listed on the Shenzhen Stock Exchange on 5 August 2022. The offer price was RMB1.86 per share. A total of 100,777,778 A shares were issued, representing approximately 11.11% of the total share capital of Holly Futures of 907,000,000 shares before the offering and 10.00% of the total share capital of 1,007,777,778 shares after the offering. The total amount of funds raised was approximately RMB 161.4 million.


Holly Futures is a company listed on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”). Holly Futures is a large futures brokerages company as approved by the China Securities and Regulatory Commission and is principally engaged in futures brokerage business, asset management business, commodity trading and risk management business as well as financial asset investment business. After the A Share Offering, Holly Future will be dual-listed on the Stock Exchange and the Shenzhen Stock Exchange.


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 associate solicitors Edwin Wong, Adrian Mak, Fiona Kam and legal assistant Jacky Lam.

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.

Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, advised Yangzhou Jiangdu Yanjiang Development Co., Ltd. (扬州市江都沿江开发有限公司) (the “Guarantor”, together with its subsidiaries, the “Group”) on the issuance of US$20,000,000 3.80% credit enhanced guaranteed bonds due 2023 issued by Hong Kong Yanjiang International Industrial Co., Limited (the “Issuer”) supported by an irrevocable standby letter of credit provided by China Zheshang Bank Co., Ltd. Nanjing Branch.


Established in May 2003, the Guarantor is a state-owned enterprise located in Yangzhou City, Jiangsu Province, China, wholly owned by the State-owned Assets Supervision and Administration Office of the People’s Government of Jiangdu District, Yangzhou City. The Group has long been the core operating entity responsible for land development, infrastructure construction, and resettlement housing in Jiangdu District, Yangzhou City. Relying on the development of Yangzhou City, strong shareholder support, and diversified group business, the Group has undertaken and completed a large number of urban development projects in Yangzhou City, playing an important role in the development and construction of Yangzhou City.


The Partner of Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, Lily Liang, led the team including Jason Wong, Vanessa Lai, Darryl Ting, Christina Yip, Catherine Kwok, Dexter Yeung, Lilian Kwong, Fairy Wang, Evelyn Fan, Jeff Wang, Andy Kwok, Neil Wang, Sherry Zhang and Janice Yang.