10 Mar 2000
Simmons & Simmons advises hongkong.com Corporation on GEM Listing
Leading international law firm Simmons & Simmons recently advised hongkong.com Corporation (hongkong.com) in relation to the placing and listing of 640 million new shares on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (GEM). The listing is expected to raise approximately HK$1.22 billion for hongkong.com.
hongkong.com is a subsidiary of China.com Corporation (a NASDAQ listed company) and operates a portal business under the domain name hongkong.com. China.com is a well known pan-Asian Internet company delivering localised content through a portal network of various web sites. The hongkong.com portal contains localised content pertaining to Hong Kong in addition to e-commerce capabilities and other value-added community services such as e-mail accounts and chat rooms.
The spin-off of hongkong.com from China.com on the GEM is the largest share offering in terms of funds raised on the GEM so far. Jointly sponsored by BNP Prime Peregrine and Lehman Brothers, the listing was accompanied by a 144A tranche in the US.
The Simmons & Simmons' team was led by Stephen Mok, a partner in the Corporate Group. He was assisted by Phillip John, Elizabeth Hickery and Rossana Chu.
Stephen Mok commented:
"There is a significant flurry in the high-tech industry at present and we are currently advising on a number of prospective listings on the GEM. A combination of our leading corporate finance practice and strong Internet expertise makes us a natural choice for companies in this sector which are interested in the GEM. We are delighted to be involved in this high profile listing."
Notes for editors:
1. Simmons & Simmons is worldclass law firm with offices in London, Paris, Brussels, Düsseldorf, Lisbon, Milan, Rome, Madrid, Abu Dhabi, Hong Kong, Shanghai and New York with over 1,400 staff worldwide. For further information on Simmons & Simmons please visit our website at www.simmons-simmons.com.
2. Simmons & Simmons' Hong Kong office provides a full range of legal services to a wide base of major multinational companies, international investment banks, government agencies and local companies. The office has 65 lawyers including 13 partners and a total staff of over 140. The office has extensive experience of corporate, international finance, commercial litigation, intellectual property, construction and property matters. The Hong Kong office works closely with the Shanghai office advising clients in Hong Kong, the PRC and throughout Asia.
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