Advised Dynasty Fine Wines Group Limited on the placing of new shares under general mandate

2023-08-15

DeHeng Hong Kong, together with DeHeng Law Offices (Tianjin) (“DeHeng Tianjin”), advised Dynasty Fine Wines Group Limited (“Dynasty Fine Wines”) (Stock Code: 828) on its placing of new shares under general mandate. DeHeng Tianjin also assisted Dynasty Fine Wines in submitting the overseas listing filing with the China Securities Regulatory Commission. 

The 160,205,886 new shares of Dynasty Fine Wines are allotted and issued to three subscribers at a total consideration of approximately HK$39.7 million under general mandate and represents approximately 11.37% of the issued share capital of Dynasty Fine Wines as enlarged by the placing. Dynasty Fine Wines intends to use the net proceeds of approximately HK$37.9 million (i) to develop a new winery in Ningxia Hui Autonomous Region, the PRC and (ii) for promotion and marketing at the core markets of the Company and other general corporate purposes.

Dynasty Fine Wines is a company listed on the Main Board of The Stock Exchange of Hong Kong Limited and is principally engaged in production and sale of wine products. 

DeHeng Hong Kong, acting as legal advisors to Dynasty Fine Wines as to Hong Kong laws, formed a project team led by partner Ernest Chung and supported by associate Wing Hun and legal assistant Dicky Lau. DeHeng Tianjin, acting as legal advisors to Dynasty Fines Wines as to PRC laws, formed a project team led by partners Guo Weifeng, Cao Qi and Tang Ruchuan. Both project teams worked closely and actively with Dynasty Fine Wines and other professional parties to provide professional, comprehensive, efficient and high-quality legal services for this project.