Dentons advises on Shanshan Brand's Hong Kong Stock Exchange Main Board listing

On 27 June 2018, Shanshan Brand Management Co., Ltd. (Stock Name: SHANSHAN; Stock Code: 01749) was successfully listed on the Main Board of the Stock Exchange of Hong Kong Limited. The Share Offer of SHANSHAN comprises the International Placing is 16,700,000 Placing Shares and the Hong Kong Public Offering is 16,700,000 Offer Shares. A total 33,400,000 Offer Shares were be made available under the Global Offering. The Offer Price has been determined at HK$3.78 per H Share and the proceeds from the Global Offering is estimated to be approximately HK$126.252 million. The proceeds from the Share Offer would be applied in the following manner: (i) developing the retail network; (ii) deploying a Variety of publicity campaigns; (iii) enhancing the information technology systems;(iv) establishing a new warehousing and logistics center; and (v) the general working capital purposes.

As the PRC legal advisers to the Sole Sponsor and the Underwriters of this project, Dentons’ Beijing office, whose service team comprises Xugang Yu, Peter Guo, Xingcheng Fan, Jingjing He and Hongjuan Zhao, has provided PRC legal service entirely, including but not limited to legal due diligence, project design of the proposed listing, review of draft PRC legal opinion, relevant PRC legal documents, corresponding sections extracted from the prospectus, and resolution of PRC legal issues.

SHANSHAN’s business primarily involves design, marketing and sale of business menswear in the PRC under three brands, namely, FIRS, which is the core and signature brand, SHANSHAN and LUBIAM. According to the Report of the industry Consultant, FIRS brand was the fifth largest business formal menswear brand in the PRC in terms of retail revenue in 2017. According to China General Chamber of Commerce and Chinese National Commerce Information Center, FIRS branded suits were one of the top three bestsellers in the PRC for five consecutive years from 2013 to 2017 by sales volume among major PRC retailers.