King & Wood Mallesons Advised On The First Bar Company IPO In Hong Kong
Legal News & Analysis - Asia Pacific - Hong Kong - Capital Markets
11 January, 2017
On 11 January 2017, advised by King & Wood Mallesons, Bar Pacific Group Holdings Limited (Bar Pacific Group, Stock Code: 8432) launched its initial public offering on the GEM Board of the Hong Kong Stock Exchange (HKSE). The IPO comprised a total of 215 million shares issued. Priced at HK$0.29 per share, the IPO raised a net amount of approximately HK$45.2 million. This transaction marks the first bar company listed in Hong Kong.
With 32 shops at street level throughout Hong Kong, Bar Pacific Group offers beverages and light refreshments. It is the largest chained bar group in Hong Kong by number of outlets, according to Euromonitor Report released in 2016.
KWM acted as Hong Kong counsel for the sponsor. The KWM team was led by Anthony Wan, supported by associate Candy Tse.