Offshore firm Appleby has acted as the Cayman Islands counsel for Costin New Materials Group in relation to its global offering and listing on the Hong Kong Stock Exchange on 21 June 2010.
The Appleby team was led by Tan Li Lee, a counsel in Appleby’s Hong Kong office, assisted by Vincent Chan.
Costin is based in the Fujan Province of China and is engaged in the research, development, production and sales of nonwoven fabrics and chemical fibres.
The group promotes and markets its products primarily through direct contacts with potential customers and participations in large-scale conferences and exhibitions. To expand its customer base and reach customers from overseas, the group also promotes and markets its products through an internet trading platform.
Based on the offer price of HKD2.38 per offer share, the net proceeds to the company from the global offering, after deducting related underwriting fees and expenses, are estimated to be approximately HKD441.5m.
