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Eversheds Sutherland advises on the Placing and top-up Subscription of Wonderful Sky Financial Group Holdings Limited

  • Hong Kong
  • China

    26-05-2015

    The Hong Kong office of law firm Eversheds Sutherland has advised China Merchants Securities (HK) Co., Limited as the placing agent in fconnection with the HK$430 million Placing and top-up Subscription of Wonderful Sky Financial Group Holdings Limited (“Wonderful Sky”).

    The Placing and top-up Subscription by the controlling shareholder of Wonderful Sky (the “Top-up Subscription”) were successfully completed on 23 April 2015 and 4 May 2015 respectively.

    Wonderful Sky is principally engaged in the businesses of provision of financial public relations services and organisation and coordination of international road show services.

    The aggregate gross and net proceeds from the Placing and top-up Subscription were approximately HK$430 million and approximately HK$423 million, respectively. Wonderful Sky intends to utilise approximately 80% of the net proceeds from the Placing and top-up Subscription for the establishment of a mobile internet professional service platform, the “Wonderful Cloud”, which provides online to offline financial services, and the remaining approximately 20% for general working capital.

    China Merchants Securities (HK) Co., Limited was the sole placing agent of the Placing and top-up Subscription.

    The Eversheds Sutherland team was led by Partner Norman Hui, assisted by Sin Joh Chuang and Natalie Jiang.

    Norman Hui commented:

    “It is a pleasure to have advised China Merchants Securities on this deal which will greatly assist Wonderful Sky in developing its new platform and expanding its existing offering.”

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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