Appleby acted as BVI counsel for Alpha Technology Group Limited (“Alpha Technology”) in relation to its landmark listing on Nasdaq Capital Market under the symbol “ATGL” on October 31, 2023, raising gross proceeds of approximately USD7 million.
The Appleby team, led by Partner Chris Cheng and assisted by Legal Executive Connie Wu, played a pivotal role in facilitating this strategic move.
Alpha Technology is a BVI-based holding company with no material operations of its own. The company operates through its subsidiaries, Techlution Service Limited and Neural Sense Limited, collectively known as its “Operating Subsidiaries.” These subsidiaries are prominent cloud-based IT solution service providers in Hong Kong, specialising in system development, web and mobile application development, and artificial intelligence-powered optical character recognition services.
Alpha Technology intends to use the net proceeds for expanding operations in overseas markets, research and development on AI-OCR technologies, and also working capital and general corporate purposes.
Appleby’s commitment to providing top-tier legal services is exemplified in its role as a strategic partner in Alpha Technology’s successful entry into the public market. Our Hong Kong Capital Markets team is highly regarded for their extensive expertise in supporting offshore companies with IPOs, introductions, placements and listings of both equity and debt securities on the Hong Kong, US, Singapore and many other internationally recognised stock exchanges.
