Ule Holdings entered into a subscription agreement with Telpo, pursuant to which Ule Holdings agreed to allot and issue, and Telpo agreed to subscribe, a total of 912,332,171 shares in Ule Holdings. Telpo’s shareholding of Ule Holdings will be increased from approximately 43.71% to 70%, while TOM E-Commerce Limited’s shareholding will be reduced from 42% to 22.39%, with the minority investors holding approximately 7.61%.

The Hong Kong team was led by managing partner David Bulley and partner Vincent Chan.

With a broad global footprint, strong working relationships with local regulators and deep transactional experience, our M&A team is well-positioned to advise clients on the offshore aspect of a wide range of M&A activities in the Asia-Pacific region.

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