Appleby acts in Hong Kong Stock Exchange listings


Offshore law firm Appleby acted as Cayman counsel to four listings on both the Main Board and Growth Enterprise Market of the Hong Kong Stock Exchange last month.

Appleby acted for PFC Device Inc., Goal Forward Holdings Limited and Tai Kam Holdings Limited in their GEM Board listings. The law firm also acted for Chong Kin Group Holdings Limited in its listing on the Main Board on Oct. 17.

The aggregate amount raised for the four listings was approximately HK$347 million.

Chong Kin is a leading concrete provider in Hong Kong. The company will use the majority of proceeds from its listing for acquiring machinery to enhance service capacity.

PFC Device manufactures and sells power discrete semiconductors under its own “PFC” brand into China, Taiwan and other Asian regional markets. The company will use the listing proceeds to purchase machinery for existing packaging facilities, as well as for the development of new production lines.

Tai Kam is primarily engaged with slope works in Hong Kong, including landslip preventive and remedial works for improving or maintaining the stability of slopes and retaining walls. The company will add machinery, equipment and staff with the funds raised.

Goal Forward is a food ingredients supplier with a focus on providing vegetables and fruits to food service operators in Hong Kong. The Group will acquire a new processing base, facilities and equipment, expand its logistics team and strengthen manpower with the new financing.

If you value our service, if you have turned to us in the past few days or weeks for verified, factual updates, if you have watched our live streaming of press conferences or sent an article to a friend... please consider a donation. Quality local journalism was at risk before the coronavirus crisis. It is now deeply threatened. Even a small amount can go a long way to sustaining our mission of informing the public. We need our readers’ financial support now more than ever.