Offshore firm Appleby has acted as the Cayman Islands counsel for Bright Smart Securities & Commodities Group in relation to its listing on the Hong Kong Stock Exchange on 25 August 2010.
The Appleby team was led by Judy Lee, a corporate partner in Appleby’s Hong Kong office, assisted by Paul Cheuk.
K&L Gates advised Bright Smart as to Hong Kong law and Loong & Yeung advised the sponsors and underwriters as to Hong Kong law.
Bocom International (Asia) and Somerley are the joint sponsors in this listing.
Bright Smart is a securities brokerage house and primarily focuses on providing online brokerage services in Hong Kong. It has extended its service coverage from securities, futures and options brokerage in Hong Kong to a wide range of financial products traded in the US and Singapore exchanges. Apart from its main business of securities, futures and options brokerage, Bright Smart also provides margin and IPO financings to its clients in Hong Kong.
Net proceeds from the offer are estimated to be around HKD218m and are planned to be used for further funding and development of the group’s margin financing and IPO financing businesses and futures and commodities brokerage businesses.
