Advised Kafelaku Coffee Holding Limited on its placing of new shares under general mandate

2024-06-11

DeHeng Hong Kong acted as the legal advisers of the Kafelaku Coffee Holding Limited (Stock code: 1869) (“Kafelaku Coffee Holding”) in relation to the placing of new shares under the general mandate by Kafelaku Coffee Holding.

On 7 June 2024, a total of 194,650,000 shares (the “Placing Shares”) have been successfully placed by Pinestone Securities Limited (“Pinestone Securities”) to not less than six independent placees. The Placing Shares represent (i) approximately 17.61% of the issued share capital of Kafelaku Coffee Holding immediately before completion of the placing; and (ii) approximately 14.98% of the issued share capital of Kafelaku Coffee Holding as enlarged by the allotment and issue of the Placing Shares immediately upon completion of the placing.

Kafelaku Coffee Holding is a Chinese restaurant group delivering Cantonese cuisine, Chinese banquet and dining services, and is currently developing a civet coffee business with a view to expanding its catering services. The aggregate net proceeds raised from the placing, after deducting all related costs, fees, expenses and commission, were approximately HK$27.10 million.

The deal was led by lead partner Boaz Cheung of DeHeng Hong Kong, and supported by associate Chloe Yuen and senior legal manager Dicky Lau. DeHeng Hong Kong worked closely with Kafelaku Coffee Holding, Pinestone Securities and other professional parties to provide professional, comprehensive and efficient legal services for this project.