Thing On Enterprise Ltd.’s HK$223 million initial public offering on the Hong Kong Stock Exchange


King & Wood Mallesons advised Thing On Enterprise Ltd. (Thing On, Stock Code 2292) as its Hong Kong counsel on its global offering and initial public offering (IPO) on the Main Board of the Hong Kong Stock Exchange.

The IPO comprised an issue of a total of 180 million shares being priced at HK$1.24 per share, raising gross proceeds of approximately HK$223 million (before the exercise of the over-allotment option).

Thing On engages in property investment business in Hong Kong with a principal focus on office, retail and industrial properties leasing and in the property management business. Their investment property portfolio covers Grade A office space in core business areas, retail shops in prime urban areas, and industrial building units in a developed urban area.

The King & Wood Mallesons team was led by Hong Kong corporate partner Candy Chan (picture) and real estate partner Siu-Ngor Chow, and supported by associates from the corporate group including Owen Ow, Jonathan Tsang and Jackson Poon, and associates from the real estate group including Ivy Man (Counsel), Lambert Chan and Libby Young.

Ogier advised Thing On Enterprise Ltd. on Cayman Islands law.

Mayer Brown JSM advised the Underwriters on the deal.

Involved fees earner: Candy Chan – King & Wood Mallesons; Owen Ow – King & Wood Mallesons; Jonathan Tsang – King & Wood Mallesons; Jackson Poon – King & Wood Mallesons; Siu-Ngor Chow – King & Wood Mallesons; Ivy Man – King & Wood Mallesons; Lambert Chan – King & Wood Mallesons; Libby Young – King & Wood Mallesons;

Law Firms: King & Wood Mallesons;

Clients: Thing On Enterprise Ltd.;