Appleby acted as Cayman counsel for China Wood Optimization (Holding) Limited (China Wood) in relation to its listing on the Growth Enterprise Market of the Hong Kong Stock Exchange by way of placing on 6 January 2014, with net proceeds of approximately HK$210 million.
China Wood will use majority of the net proceeds from the Offering for enhancement of production capacities through acquisition of advanced equipment, repayment of loans, as well as strengthening research and development capacities for new products. The remaining proceeds will be used for expansion of sales networks, working capital and other general corporate purposes.
The Appleby team was led by Judy Lee, a Corporate Partner in Appleby’s Hong Kong office, assisted by Senior Associate, Chris Cheng. P. C. Woo & Co. advised the Company as to Hong Kong law and Commerce & Finance Law Offices advised the Company as to PRC law, while Chiu & Partners advised the underwriters as to Hong Kong law and Jingtian & Gongcheng advised the underwriters as to PRC law.
