Pagoda Completes HK$442 Million Hong Kong IPO and Rule 144A/Regulation S Offering
01.18.23
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Simpson Thacher represented Shenzhen Pagoda Industrial (Group) Corporation Ltd. (“Pagoda”) (HKSE: 2411) in connection with its initial public offering and Rule 144A and Regulation S offering. Pagoda offered an aggregate of 78,947,500 H shares prior to the exercise of the international underwriters’ overallotment option. The base offering size was approximately HK$442 million (approximately US$56.7 million). The H shares of Pagoda are listed on the Main Board of the Hong Kong Stock Exchange. Morgan Stanley acted as sole sponsor, overall coordinator, sole global coordinator, joint bookrunner and joint lead manager.
Pagoda is the largest fruit retail operator in China. Through internal development and external empowerments, they are able to exert influence and management across the entire industry chain from fruit farming to retail end. They participate in the cultivation phase to secure high-quality fruits, implement professional and standardized quality management throughout the entire industry chain, provide consumers with delicious fruits at affordable prices.
The Simpson Thacher team for the transaction included Christopher Wong, Yi Gao, Marjory Ding, Vincy Huang and Zhengyuan Fan (Capital Markets).