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.