Harneys advises Star Plus Legend Holdings Limited on its Hong Kong IPO
Harneys acted as Cayman Islands counsel to Star Plus Legend Holdings Limited on its Hong Kong initial public offering, with an offering size of HK$538 million (approximately US$69 million). Its shares were listed and commenced trading on 13 July 2023.
Founded in 2017, Star Plus Legend develops and sells health management products and skin care products, including the bulletproof coffee MODONG coffee, which is a drink made with high-fat content to help individuals boost their energy levels while dieting. It also operates the intellectual property creation and operation business, which involves creating reality shows and planning concerts and collaborates closely with Taiwanese pop stars Mr. Jay Chou, Mr. Harlem Yu and Mr. Liu Keng-hung.
Partner Raymond Ng and Senior Legal Manager Denise Chan led the Harneys Hong Kong team. Counsel Henno Boshoff from the Singapore office provided support on trust-related matters. King & Wood Mallesons, Han Kun Law Offices, ELLALAN, and LCS & Partners together acted as legal counsel to Star Plus Legend, while Jones Day, Chiu & Partners, Jingtian & Gongcheng Law Firm, and Beijing Dentons Law Offices, LLP, advised the sole sponsor and the underwriters.
Raymond commented, “We have worked on the Star Plus IPO since 2020 and are delighted to have brought the project to a successful conclusion. Continuing with our recent IPO trajectory with the likes of Keep Inc., Laekna Inc., and YSB Inc., these closings highlight our equity capital markets expertise and our strong track record working with cutting-edge companies from different industry sectors.”
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.