Appleby acted as Cayman counsel for EGL Company Holdings Limited (EGL Tours) in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 28 November 2014, with net proceeds of approximately HK$114.5 million.
EGL Tours will use the majority of the proceeds for enhancement of sales channels, promotion of brand image and recognition, and strengthening operational infrastructure. The remaining proceeds will be used for development of overseas wedding tours as well as for general working capital and other general corporate purposes.
The Appleby team was led by Judy Lee, a corporate partner in the Hong Kong office, assisted by Senior Associate Jo Lit and Associate Tiffy Wan. Mayer Brown JSM advised EGL Tours as to Hong Kong law. DSL Lawyers and Soga Law Office advised the company as to Macau and Japan law, respectively. Deacons was the legal advisor of the sponsors and underwriters as to Hong Kong law.
EGL Tours is a leading travel company in Hong Kong and Macau, principally engaged in the design, development and sale of package tours, FIT products for independent travel and other travel related products and services. EGL Tours was the top travel company in the Japan-bound package tour market in Hong Kong based on revenue in 2011, 2012 and 2013.
Source: www.applebyglobal.com
