Transaction Reports Sunley Holdings Limited
Sunley Holdings Limited IPO
Legal advisors to Sunley Holdings Limited:
Hong Kong’s Sunley Holdings Limited – Global Share Offering
Sunley Holdings Limited, a company principally engaged in the foundation business and machinery leasing business in Hong Kong, has announced the details about its global offering of shares:.
Shares for offer: 75 million new shares, of which 67.5 million shares (90%) are for international placing and 7.5 million shares (10%) are for Hong Kong public offering. Offer price: HK$0.83-0.94 per share. Gross proceeds: HK$62.25-70.50 million. Net proceeds: HK$50.7 million (assuming an offer price of HK$0.89 per share).
Sunley Holdings Limited is a contractor in the Hong Kong foundation industry. The Company is principally engaged in the foundation business and machinery leasing business. As of March 31, 2012, the
Company had completed 30 projects and had 16 projects in progress. The construction works undertaken by the Company are divided into foundation works (including bored piles, jacked piles, percussive piles, socketed H-piles, mini-piles, diaphragm wall, footings and pile caps), and ancillary services (including site formation, site investigation and drilling works), with particular specialization in piling works. The Company also undertakes demolition works, excavation and lateral support construction, basement excavation and construction of superstructures. It undertakes foundation works related projects in both the public sector, including building and infrastructure related projects, and the private sector, which are mostly building related projects.
TheMobileGamer Pte Ltd SingTel and Softbank Corp acquire
stake in TheMobileGamer Pte Ltd from Ideas Ventures Limited and One97
Communications Singapore Private Limited
Legal advisor to Ideas Ventures Limited and One97 Communications Singapore Private Limited:
SingTel and Softbank Corp acquire stake in
TheMobileGamer Pte Ltd from Ideas Ventures Limited and One97 Communications Singapore Private Limited
Colin Ng & Partners LLP (“CNP”) acted for Ideas Ventures Limited and One97 Communications Singapore Private Limited in the sale of their majority equity interests in TheMobileGamer Pte Ltd (“TMG”) to South East Asia’s largest telco SingTel (through its wholly-owned subsidiary SingTel Idea Factory Pte. Ltd.) and Japanese telecommunications and internet firm Softbank Corp. TMG is a Singapore-based start-up that aggregates, distributes, licenses and develops mobile gaming software. TMG says that its games are played by 4 million users and its titles can be found in social networks like mig33, a mobile community with over 50 million users.
As part of the transaction, CNP also acted for TMG in relation to the share subscription of new Series ‘B’ Preferred TMG shares by SingTel and Softbank. CNP
Partner, Lisa Theng led the legal team in the transaction, assisted by Foreign Associate, Ana Limgenco, Associate, Ken Chia and Legal Executive, Grace Torralba.
Colin Ng & Partners LLP (CNP) is a Singapore law firm with a talent for cross-border business. With more than 125 staff, including more than 50 fee-earners, and a strong network of international contacts, the firm has the capability to deliver legal solutions in Singapore and beyond. CNP is consistently recognized as being among the top full-service law firms in Singapore by leading legal market publications such as Asia Pacific Legal 500, International Financial Law Review 1000, Asialaw Profiles and Chambers Asia.
The firm is a member of Interlaw, a network of high quality corporate, commercial independent law firms located in more than 100 cities worldwide.
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