Vivien Teu & Co LLP (in Association with Llinks Law Offices) acted as the Hong Kong legal adviser of 51RENPIN.COM INC. (the “Offeror”) in respect of its mandatory general offer to acquire all the issued shares in the capital of China Netcom Technology Holdings Limited (HKEX stock code 8071) (the “Company”). In connection with this transaction, Vivien Teu & Co LLP further advised the Offeror in respect of the acquisition of ordinary and convertible preferred shares from the chairman of the Company and a subscription of ordinary shares of the Company.
51RENPIN.COM INC. is one of the leading financial technology company in the China and is wholly owned by Hangzhou Enniu Network Technology Co., Ltd, providing debt management, financing and technology services. 51RENPIN.COM INC. created an app which manages credit card statement and has the most users of all the China’s mobile internet finance companies. 51RENPIN.COM INC. further introduced its peer-to-peer lending platform in 2015.
The deal was led by Partner Dennis Fong and senior associate Norman Lee, supported by associate Brian Ng and trainee Scott Wong.
张慧雯律师事务所有限责任合伙 (通力律师事务所香港联营所)就51RENPIN.COM INC.（“要约方”）对中彩网通控股有限公司（香港交易所股份代号8071）（“公司”）所有已发行股票作出强制性有条件现金要约提供法律意见。本所也就要约方收购公司主席之普通及可换股优先股以及认购本公司普通股向要约方提供意见。
51RENPIN.COM INC.由杭州恩牛网络技术有限公司拥有的科技金融企业，是中国领先的科技金融服务集团。其业务范畴包括负债管理、金融及科技服务。首次设计了一个一键智能管理信用卡账单的“51信用卡管家”APP，成为管理最多中国信用卡账单的移动互联网金融公司。51RENPIN.COM INC.并于2015年推出P2P网贷平台。
Vivien Teu & Co LLP (Llinks Law Offices Hong Kong Associated Law Firm) represented SHENGLONG SPLENDECOR INTERNATIONAL LIMITED in its share offer and successful listing on the Growth Enterprise Market of the Hong Kong Stock Exchange on 17 July 2017. Messis acted as the sole sponsor. Gransing Securities and Astrum also acted as joint bookrunners and joint lead managers in the share offer.
Shenglong Intl was established in 1993 in Hangzhou PRC and it principally engages in the manufacturing and sales of decorative printing materials products, such as, decorative paper, melamine impregnated paper, finish foil paper, PVC furniture film and PVC flooring film. Shenglong Intl’s decorative printing materials products were sold to over 30 countries.
張慧雯律師事務所有限責任合夥 (通力律師事務所香港聯營所) 代表盛龍錦秀國際有限公司 (SHENGLONG SPLENDECOR INTERNATIONAL LIMITED) 完成其於2017年7月17日香港聯合交易所創業板上市及股份發售。 大有融資作為獨家保薦人， 鼎成證券及Astrum作為此交易的聯席帳簿管理人及聯席牽頭經辦人完成本次股份發售及上市項目。
Vivien Teu & Co LLP is pleased to be one of the authors of A Practical Handbook to Hong Kong IPOs 2017, the e-version of which is now available.
Dennis Fong, partner of our Corporate and Securities practice areas, wrote on – Executing your Hong Kong IPO application process – providing a comprehensive overview of the requirements, key elements and process for a successful Main Board or GEM listing in Hong Kong.
The following are the links at which the full publication may be viewed on the mobile app and/or downloaded:
English version: 101 tips to executives: A Practical Handbook to Hong Kong IPOs 2017
Simplified Chinese version: 給高管101實用提示: 2017 香港首次公開招股實務手冊
Vivien Teu & Co LLP is pleased to announce and welcome Freda Lim, who has joined as Counsel to our financial services group. Freda will play a key role in the firm’s wealth management and trusts practice, and she shall also continue her focus in succession planning and probate matters for private clients. Freda has most recently been Special Counsel with the Hong Kong office of UK firm Withers, and brings with her more than 10 years of dedicated private clients practice experience.
The addition of Freda Lim reflects growing client needs on specialist trust and succession planning matters, and is highly synergistic with our existing strength in investment funds and financial regulatory practice of our asset management group. Freda will no doubt add to our depth and breadth in expertise to provide legal advice and support on financial services, investments and wealth planning matters. We look forward to providing solid service and working alongside our clients and contacts who are wealth managers, trust service providers, private banks and family offices in this common space.
We would also like to take this opportunity to share our observations on the growth of family offices in Asia as an increasingly important constituent in private wealth management.
With increasing wealth levels in Asia, more family offices are in recent years set up in the region. This has already been a global trend – in a recent front-page article of The Wall Street Journal, family office was referred to as the new force on Wall Street (“New Force on Wall Street: The ”Family Office”, 9 March 2017).
We examine the key elements of the functions and services for family offices, and outline some key legal aspects as well as relevant regulatory considerations for establishing family offices or structures, or when family office professionals offer related services, in this special publication:
Private Wealth Management & Family Offices
Luk Hing Entertainment’s Hong Kong GEM Listing
Vivien Teu & Co (in association with Llinks Law Offices) represented Luk Hing Entertainment Group Holdings Limited in its placing and successful listing on the Growth Enterprise Market of the Hong Kong Stock Exchange on 11 November 2016. China Everbright acted as the sole sponsor and sole global coordinator. Ping An Securities, Opus Capital and Innovax Capital also acted as joint lead managers in the placing.
Luk Hing Entertainment’s listing is the first listing of a Macau-based clubbing venue operator on the Hong Kong Stock Exchange. Luk Hing Entertainment operates Club Cubic, which is one of the leading premium clubbing venues in the region, in the City of Dreams complex in Macau. In 2016, it organised Hong Kong’s first Road to Ultra music festival. Internationally renowned South Korean singer and artist Seungri is a cornerstone investor in the placing.
張慧雯律師事務所(與通力律師事務所聯營)代表陸慶娛樂集團控股有限公司（Luk Hing Entertainment Group Holdings Limited）完成其2016年11月11日成功於香港聯合交易所創業板上市及配售股份。中國光大作為獨家保薦人及獨家全球協調人，聯同平安證券、創富融資及創陞融資作為此交易的聯席牽頭經辦人完成是次配售及上市項目。
陸慶娛樂為首家於香港聯合交易所上市的澳門clubbing及音樂活動會所運營商。陸慶娛樂於澳門新濠天地營運的Club Cubic, 為區內頂尖的高端clubbing及音樂活動會所之一, 並於2016年舉辦了香港的首次Road to Ultra音樂節。國際知名的韓國歌手勝利為是次配售的基石投資者。
Vivien Teu & Co spoke to Asian Private Banker on the new regulatory development effective 25 March 2016, which impacts sale and distribution of financial products to professional investors who are high-net-worth individuals or their corporate or trust vehicles. (See our client update which details the regulatory change.)
We were quoted as follows:
- Private banks in Hong Kong face stricter and tighter due diligence requirements as the city’s Securities and Futures Commission (SFC) introduces a new regime, on how licensed and registered persons deal with professional investors.
- The changes will affect intermediaries with reared to high net worths individuals, also small-and-medium enterprises with investible portfolio or assets of US$8 million and US$40 million respectively.
- Previously professional investors that are not institutional investors, such as high net worths individuals,s trust corporations and corporate professional investors could be exempted from suitability processes, but now will have to undergo the same question-and-answer procedures as any other retail customer for assessing investment experience and situation to gauge suitability.
- The new requirements will impact the distribution of products at private banks, with the exception of sophisticated high-net-worth clients who invest under a corporate structure and satisfy an assessment of investment knowledge, experience of the investment decision market and decision-making process, which may include family offices.
The Hong Kong Securities and Futures Commission (SFC) today approved a total of 10 Mainland funds for retail distribution in Hong Kong under the Mainland-Hong Kong Mutual Recognition of Funds (MRF). Vivien Teu & Co (in Association with Llinks Law Offices) acted for 6 different Mainland fund management companies in respect of these 10 Mainland funds.
||Name of Authorised Funds
|Bank of China Investment Management Co., Ltd
||BOC Income Mixed Securities Investment Fund
BOC Sustainable Growth Mixed Securities Investment Fund
|Bank of Communications Schroder Fund Management Co., Ltd.
||BOCOM Schroder Growth Mixed Securities Investment Fund
BOCOM Schroder Stable Allocation Mixed Securities Investment Fund
|China Merchants Fund Management Co., Ltd.
||China Merchants Industry Pioneer Mixed Securities Investment Fund
|China Southern Asset Management Co., Ltd.
||China Southern Selected Value Mixed Securities Investment Fund
|China Universal Asset Management Company Limited
||China Universal Health Care Mixed Securities Investment Fund
China Universal Privately-owned Enterprises Mixed Securities Investment Fund
China Universal Selective Mixed Securities Investment Fund
|HuaAn Asset Management Co., Ltd.
||HuaAn Enhanced MSCI China A Index Securities Investment Fund
In April this year, Vivien Teu & Co has entered into an association with the Hong Kong office of Llinks Law Offices, upon the latter’s establishment in the same month.
Llinks Law Offices Shanghai has established a branch office in Hong Kong, which is Llinks’ first branch office outside of mainland China, and is the third office of the firm after Shanghai and Beijing.
Since its establishment in 1998, Llinks has specialized in legal services in the areas of banking and finance, capital markets, corporate and commercial, asset management, wealth management, financial institutions, finance, mergers, acquisitions and restructuring, private equity and venture capital investments, tax and dispute resolution, and has earned a strong reputation as a leading law firm in these areas.
The establishment of Llinks Hong Kong represents the firm’s vision in the continuing restructuring and expansion of the Chinese economy and financial infrastructure, as well as in the rapid development of the links and close cooperation between China and Hong Kong financial markets. This follows the legal needs of Llinks’ onshore and offshore clients.
Under the association of Llinks Hong Kong and Vivien Teu & Co, the two firms would be bringing together legal expertise and capabilities to offer specialist and one-stop China and Hong Kong legal services, especially in the areas of funds, asset management, corporate finance, corporate and commercial, mergers and acquisitions, banking and finance.