DeHeng (Hong Kong) advised Palasino Holdings Limited on its listing on the Main Board of the Hong Kong Stock Exchange, as the first European gaming and leisure group listed in Hong Kong

2024-03-27

On 26 March 2024, Palasino Holdings Limited (“Palasino”) successfully listed on the Main Board of the Hon Kong Stock Exchange (Stock code: 2536). Palasino is spun off from its controlling shareholder, Far East Consortium International Limited (the shares of which are listed on the Main Board of the Hong Kong Stock Exchange, stock code: 35) (the “FEC Group”), becoming the first European gaming and leisure group listed in Hong Kong. Immediately upon completion of the global offering, the market capitalisation of Palasino exceeds HK$2.0 billion.

Palasino is a gaming and leisure group comprising (i) one integrated land-based casino and resort and two full-service land-based casinos operating in the Czech Republic, offering primarily slot machines and table games, and (ii) three hotels in Germany and one hotel in Austria that offer accommodation, catering, conference, and leisure services. Palasino’s land-based gaming business and German and Austrian hotel business were acquired by the FEC Group through merge in 2018. Since then, Palasino has expanded its gaming offerings with the addition of new slot machines and the launch of poker game, and rebranded its casinos to “Palasino”. 

Palasino submitted its listing application in September 2023, and became successfully listed within six months. In this project, DeHeng (Hong Kong) acted as the Hong Kong legal counsel to the sole sponsor, Guotai Junan Capital Limited, and underwriters (including Guotai Junan Securities (Hong Kong) Limited, CMB International Capital Limited and Zhongtai International Securities Limited), and fully participated in the project. DeHeng (Hong Kong) worked closely and actively with other professional parties to provide professional, comprehensive and efficient legal services for this project.