Announcement

Commerce & Finance Law Offices ("Tongshang") represented Ling Yue Services Group Limited (HKEX:2165) (Ling Yue Services) as PRC counsel in its HK$293.3 million (US$37.8 million) listing on the Main Board of the Stock Exchange of Hong Kong (HKEX).

Ling Yue Services Group Limited is a reputable property management company rooted in Sichuan Province with a well-established position in Western China and a presence across China.

Tongshang has in recent years advised on 24 Hong Kong IPOs in property management industry, including Yuexiu Services Group Limited (HKEX: 6626); New Hope Service Holdings Limited (HKEX: 3658); and Zhong Ao Home Group Limited (HKEX:1538). Commerce & Finance Law Offices IPO practice continues to be one of the leaders in the Hong Kong IPO market. According to latest data from Ryanben Capital, Tongshang was the no. 1 legal adviser to PRC law in the Hong Kong IPO league table by deal volume in the past 6 months (January – June 2021).

Commerce & Finance Law Offices ("Tongshang") represented the joint sponsors and underwriters in the successful listing of Keymed Biosciences Inc. (HKEX:2162) (KEYMED BIO-B) on the Main Board of the Stock Exchange of Hong Kong (HKEX), which raised approximately HK$3.1 billion (US$398 million).

Morgan Stanley Asia Limited, China International Capital Corporation Hong Kong Securities Limited and Huatai Financial Holdings (Hong Kong) Limited were the joint sponsors for the IPO. Morgan Stanley Asia Limited, China International Capital Corporation Hong Kong Securities Limited, Huatai Financial Holdings (Hong Kong) Limited and China Everbright Securities (HK) Limited acted as the Hong Kong underwriters.

Keymed Biosciences Inc. is a biotechnology company focused on the in-house discovery and development of innovative biological therapies in the autoimmune and oncology therapeutic areas.

Tongshang IPO practice continues to be one of the leaders in the Hong Kong IPO market. According to latest data from Ryanben Capital, Tongshang was the no. 1 legal adviser to PRC law in the Hong Kong IPO league table by deal volume in the past 6 months (January – June 2021).

Commerce & Finance Law Offices (“Tongshang”), together with Eric Chow & Co., its Hong Kong associated law firm (“Tongshang Hong Kong”) jointly represented E-star Commercial Management Company Limited (“E-Star Commercial”) in its listing on the Main Board of the Hong Kong Stock Exchange (“HKEx”) (Stock Code: 06668.HK) on 26 January 2021. Not being affected by the COVID-19 impact and market trend, the Hong Kong Public Offering of E-Star Commercial recorded approximately 756 times over-subscription. E-Star Commercial’s listing is yet another project collaborated and completed by Tongshang and Tongshang Hong Kong, in which we proudly provided a “one-stop shop” and comprehensive PRC and Hong Kong legal services to the issuer E-Star Commercial and the Joint Sponsors.
Tongshang and Tongshang Hong Kong acted as the PRC and Hong Kong legal advisors to the Joint Sponsors, CCB International Capital Limited and China Securities (International) Corporate Finance Company Limited, and the underwriters for this listing. Since kickoff, we have been highly involved in the entire listing process and we have provided a full range and high-quality legal services to the clients. Our outstanding work attitude and professionalism have been recognized by E-Star Commercial, the Joint Sponsors and other professional parties.

Eric Chow & Co. in Association with Commerce & Finance Law Offices (“Tongshang Hong Kong”) represented Transtech Optelecom Science Holdings Limited (“Transtech”) in its transfer of listing from GEM to the Main Board of the Hong Kong Stock Exchange (“HKEx”) (HKSE: 9963.HK) on 5 November 2020.

Transtech is a company based in Hong Kong and principally engaged in manufacturing and sales of optical fibres, optical fibre cables, optical cable cores and other related products. It has been listed on GEM since July 2017. HKEx amended its listing rules in early 2018 and imposed more stringent requirements on transfer of listing applications from GEM to the Main Board. As an Eligible Issuer, Transtech made use of the transitional transfer of listing arrangement under Appendix 28 of the Listing Rules and successfully transferred its listing to the Main Board of HKEx on 5 November 2020.

Tongshang Hong Kong acted as the Hong Kong legal adviser of Transtech in its transfer of listing, and was responsible for the drafting of the transfer of listing announcement and other related work for the transfer of listing and provided full range and high-quality legal services to its client in the transfer of listing project. The outstanding work attitude and professionalism have been recognised by its client in the project.

Commerce & Finance Law Offices always strive to provide comprehensive, full-service and high-quality legal services to its corporate and private clients. The establishment of Tongshang Hong Kong was a stepping stone to achieve the goal. With the expansion into the Hong Kong legal market, we believe we are able to provide a more comprehensive and high-quality legal services, especially in the IPOs and capital markets transactions in both Hong Kong and PRC markets.