Appleby acted as Cayman counsel for Millennium Pacific Group Holdings Limited (Millennium Pacific) in relation to its listing on the Growth Enterprise Market of the Hong Kong Stock Exchange, with gross proceeds of approximately HK$60 million.
Millennium Pacific will use the majority of the net proceeds for loan repayment, expansion of production, and improvement of its information technology system. The remaining proceeds will be used to expand and strengthen the research and development team, as well as for working capital.
The Appleby team was led by Judy Lee, a corporate partner in the Hong Kong office, assisted by Senior Associate Chris Cheng. Hastings & Co advised Millennium Pacific as to Hong Kong law, Dacheng Law Offices advised the company on PRC law, Norton Rose Fulbright advised on UK and EU law, and Lee & Li advised on Taiwan law. Robertsons acted for the sponsors and underwriters as to Hong Kong law.
Millennium Pacific is principally engaged in the research and development, manufacture and sale of consumer electronic products, such as GPS personal navigation devices, mobile internet devices and digital video recorders.
