Deacons has advised the sole sponsor Dakin Capital Limited and underwriters in relation to the listing of Sheng Ye Capital Limited on the Growth Enterprise Market of the Hong Kong Stock Exchange by way of global offering. The listing seeks to raise up to HK$407 million (subject to exercise of the over-allotment option).
Sheng Ye is a specialised enterprise financial services provider offering accounts receivable financing and other related solutions, mainly in the energy, construction and medical sectors in the PRC. In 2015, it ranked fourth in terms of factoring business turnover among all third party commercial factoring companies registered in the PRC with a market share of approximately 5.4%.
Sheng Ye published its IPO prospectus on 26 June 2017. Dealings in its shares commenced on 6 July 2017.
Deacons’ team is led by Ronny Chow, head of the corporate finance practice.