Search

Chungs Lawyers (in association with DeHeng Law Offices) advised the Issuer as to English and Hong Kong law and acted as listing agent on the issuance of US$270,000,000 4.50% Bonds due 2024 by Ji’An Chengtou Holding Group Co., Ltd.(the “Issuer”), a local government financing vehicle which is listed on the Hong Kong Stock Exchange on 15 March 2021.(stock code: 40611).

Advised Hang Pin Living Technology Company Limited (stock code: 1682) (“Hang Pin Living”) on its issue of 130,000,000 shares under general mandate, representing approximately 16.54% of the issued share capital of Hang Pin Living as enlarged by the allotment and issue of shares.

Hang Pin Living is a company listed on the Main Board of The Stock Exchange of Hong Kong Limited. Hang Pin Living Group is principally engaged in the garment sourcing business and the provision of financial services business.



Pursuant to the resumption proposal of a Hong Kong listed company in provisional liquidation (the “Company”), the Company intended to acquire the Target Company, which shall constitute a reverse takeover involving a new listing application of the Target Company.


The Stock Exchange expressed concern over the integrity of the Target Company’s controlling shareholder as a result of possible non-compliance of the controlling shareholder as inferred in the court judgment on the conviction against a former government official for corruption and was of the view that the controlling shareholder was not considered to be suitable to serve as a director of a listed company and that the Target Company would not be considered suitable for listing.


Chungs Lawyers (in association with DeHeng Law Offices) advised the Target Company in the review hearing and assisted in making submissions to the Listing Appeals Committee and successfully persuaded together with other professional parties the Listing Appeals Committee of overturning the decision of the Stock Exchange. As such, the Company and the Target Company are able to proceed with application for the new listing application and the resumption.