Tea product company in US$160 million IPO
October 07, 2011 | BY
clpstaff &clp articlesTenfu Holdings Company (Tenfu) has raised HK$1.25 million (US$160 million) from its initial public offering (IPO) on the Hong Kong Stock Exchange and Rule…
Tenfu Holdings Company (Tenfu) has raised HK$1.25 million (US$160 million) from its initial public offering (IPO) on the Hong Kong Stock Exchange and Rule 144A/Regulation S global offering.
The issuer is China's largest Chinese tea-product enterprise. It will use the IPO proceeds to expand and optimize existing outlets, acquire new stores and fund marketing. The joint sponsors were Credit Suisee, China International Corporation Hong Kong Securities and Polaris Securities.
Tenfu was advised by a Sidley Austin team as to Hong Kong law and US law, and by Jingtian & Gongcheng as to PRC law. US and Hong Kong advisers to the underwriters was a Hong Kong-based Herbert Smith team led by Tommy Tong, Jason Sung and Kevin Roy. The underwriters' PRC adviser was Commerce & Finance Law Offices, and Cayman Islands counsel was Conyers Dill & Pearman.
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