Telecom Digital Holdings Limited Complete HK$77.7m Listing on the Hong Kong Stock Exchange
Rato Ling Vong Lei & Cortes Advogados recently advised Telecom Digital Holdings Limited (“Telecom Digital”) on its listing on the Growth Enterprise Market of the Hong Kong Stock Exchange, with net proceeds of approximately HK$77.7 million.
On 26 May 2014, Telecom Digital released 100,000,000 placing shares (subject to the Over-allotment Option) at HK$1.00 per placing share. Telecom Digital will use the majority of the net proceeds from the listing to expand its shop network and its head office, and to open a flagship store.
Telecom Digital was founded in 1974 as one of the first paging operators in Hong Kong. In the past 40 years, Telecom Digital has been actively engaged in the telecommunications and related business in Hong Kong. They are actively engaged in the retail sales of mobile phones of various brands and pre-paid SIM cards; distribution of mobile phones; provision of paging and other telecommunications services; and provision of operation services to New World Mobility Limited, a mobile service operator in Hong Kong and 40 per cent-owned associate of the Telecom Digital Group.
Rato Ling Vong Lei & Cortes Advogados is a Macau based law office. Established in 1985 as the office of Goncalves Pereira & Rato, it has since grown to its present formation of five associated lawyers (three of which are also private notaries). An additional group of six lawyers, eight trainee lawyers and a bilingual staff of 12, complete the team.
Legal Advisor To Telecom Digital Holdings Ltd as to Macau Law
Pedro Cortes, Partner, commented:
“We are extremely pleased to have advised Telecom Digital on its IPO. The team involved was delightful to work with, ensuring a smooth transaction even with a tight timeline. Lektou’s dedication to the project, experience and expertise in IPOs and corporate matters, as well as our understanding of local authorities was crucial for the timely completion of the Macau aspects of the IPO and the achievement of a successful listing on the HKEx.”