Harneys advises Able View Global Inc. on its business combination with Hainan Manaslu Acquisition Corp.
Harneys acted as Cayman Islands counsel to Able View Global Inc. (Able View) on its de-SPAC business combination with Hainan Manaslu Acquisition Corp. (HMAC) with a pro-forma enterprise value of approximately US$400 million.
Able View, one of the largest comprehensive brand management partners of international beauty and personal care brands in China, and HMAC, a Cayman Islands incorporated special purpose acquisition company, signed a business combination agreement in November 2022. The merger was approved by the shareholders of HMAC earlier this month and was completed on 17 August 2023. The shares and warrants of Able View begin trading on the NASDAQ capital market today.
Founded in 2015, Able View is a Shanghai-based cross-border brand management company specialising in the beauty and personal care industry.
Partner Raymond Ng and Senior Legal Manager Nicholas Fong led the Harneys Hong Kong team. Pryor Cashman, LLP acted as US legal counsel to Able View. Loeb & Loeb LLP and Maples and Calder (Cayman) LLP advised HMAC on US and Cayman Islands laws, respectively.
Raymond commented: “We are pleased to be involved in this landmark project for Able View, The successful completion of the de-SPAC business combination and the listing of Able View would enable Able View to access funding more efficiently, and we look forward to seeing their future success as they expand further into the Chinese beauty and personal care market.”
The Corporate team at Harneys advises on complex cross-border transactions involving the British Virgin Islands, Cayman Islands, Luxembourg, and Cyprus corporate vehicles. The team’s significant track record includes advising on high-profile private equity transactions, landmark IPOs, public and private M&A, and joint ventures. The firm’s expertise lies in advising entities listed or listing on all major stock exchanges, including the New York Stock Exchange, NASDAQ, the London Stock Exchange, AIM, the Hong Kong Stock Exchange, the Shanghai Stock Exchange, and the Luxembourg Stock Exchange.