Advised Tibet Water Resources Ltd. on its placing of new shares under general mandate

2024-02-22

DeHeng Hong Kong acted as the legal advisers of the placing agent, Gransing Securities Co., Limited (“Gransing Securities”), in relation to the placing of new shares under the general mandate by Tibet Water Resources Ltd. (Stock code: 1115) (“Tibet Water”).

On 21 February 2024, a total of 500,000,000 shares (the “Placing Shares”) have been successfully placed by Gransing Securities to not less than six independent placees. The Placing Shares represent (i) approximately 12.26% of the issued share capital of Tibet Water immediately before completion of the placing; and (ii) approximately 10.92% of the issued share capital of Tibet Water as enlarged by the allotment and issue of the Placing Shares immediately upon completion of the placing.

Tibet Water is principally engaged in the production and sale of water products and beer products in the PRC. The aggregate net proceeds raised from the placing, after deducting all related costs, fees, expenses and commission, were approximately HK$105.8 million.

The deal was led by lead partners Ernest Chung and Boaz Cheung of DeHeng Hong Kong, and supported by associate Chloe Yuen and trainee solicitor Syndi Ling. DeHeng Hong Kong worked closely with Gransing Securities, Tibet Water and other professional parties to provide professional, comprehensive and efficient legal services for this project.