Appleby acted as Bermuda counsel to Global Sources Limited (NASDAQ: GSOL) (Global Sources) on its US$50 million cash tender offer to purchase up to 5 million issued common shares at a price of US$10 per share. Approximately 29.6 million shares were properly tendered. The Appleby team was led by Li-Lee Tan, counsel in the Hong Kong office, and assisted by associate Vincent Chan.
Global Sources is a leading business-to-business media company and a primary facilitator of trade with Greater China. The core business facilitates trade between Asia and the world using English-language media such as online marketplaces (GlobalSources.com), print and digital magazines, sourcing research reports, private sourcing events, and trade shows. Other businesses include providing Chinese-language media to companies selling to and within Greater China, including online web sites, print and digital magazines, seminars and trade shows.