Offshore law firm Appleby's Hong Kong office has set its highest record yet for deal value total on listing deals, working on deals that amounted to HK$15.5bn in the first half of the year.
The figure represents a HK$12.7bn increase in value compared to the same period in 2018 and surpasses the total value of deals in the whole of 2018 by HK$6.05bn, the law firm said in a statement.
Appleby acted as offshore counsel in listings on both the Main Board and the Growth Enterprise Market (GEM) of the Hong Kong Stock Exchange.
This achievement further demonstrates our leading position as the “go-to” offshore firm for issuers that need expert advice for their listing plans"
Companies from the Cayman Islands and Bermuda currently make up more than 70% of all entities listed on the main board of the Hong Kong Stock Exchange, almost all of which also maintain British Virgin Islands entities as part of their group.
Appleby also saw a 30% increase in Chinese based companies going to them for offshore legal advice for their Hong Kong Stock Exchange listing in the first half of this year compared to the same period in 2018.
"Over the past three years, we have continually set new records for the deal value on listing deals at Appleby. This, alongside the increase in work from the PRC is a testament to the hard work and expertise of our team, who consistently deliver great results for our clients. This achievement further demonstrates our leading position as the "go-to" offshore firm for issuers that need expert advice for their listing plans," Hong Kong co-managing partner Judy Lee told International Investment.
The Capital Markets team is led by Hong Kong co-managing partner and local corporate practice group head Judy Lee alongside partners Paul Cheuk and Chris Cheng, counsel Vincent Chan, senior associate Robert Sit, associates Quinton Tse and Huiyan Liew, and legal executive Connie Wu.