Morrison & Foerster represented joint sponsors BOCI Asia Limited and BOSC International Company Limited in relation to Tsit Wing International Holdings Limited’s IPO on the Hong Kong Stock Exchange. With an offer price range of HK$1.50 to HK$2.19 per share, estimated net proceeds from the IPO will be approximately HK$149.7 million after the deduction of underwriting commissions and estimated expenses, assuming the over-allotment option is not exercised and using an offer price of HK$1.84, being the mid-point of the offer price range. The Hong Kong public offering commences on April 30, 2018 (Monday) and closes at 12:00 noon on May 4, 2018 (Friday). The allotment result is expected to be announced on May 10, 2018 (Thursday). Dealing in Tsit Wing’s shares on the Main Board of the Hong Kong Stock Exchange is expected to commence at 9:00 a.m. on May 11, 2018 (Friday).
Tsit Wing is a leading integrated B2B coffee and black tea solutions provider in Hong Kong, Macau and China with 85-year heritage. Tsit Wing commenced its frozen meat business in Hong Kong and China in 2013.
The MoFo team was led by Hong Kong Corporate partner Vivian Yiu, and included Hong Kong Corporate Of Counsel Samuel Ng, Hong Kong Corporate associate Victoria Yip, and Hong Kong Corporate legal assistant Yoki Huang.