DeHeng Hong Kong advised Tonking New Energy Group Holdings Limited on its rights issue

2024-09-02

Recently, DeHeng Hong Kong, acted as the Hong Kong legal advisers to Tonking New Energy Group Holdings Limited (“Tonking”) (Stock Code: 8326) in respect of its rights issue on the basis of one (1) rights share for every two (2) existing shares held on the record date on a non-underwritten basis. 

Tonking is a company listed on GEM of the Hong Kong Stock Exchange, and is principally engaged in the renewable energy business in the PRC, including (i) the provision of one-stop value-added solutions (EPC, maintenance and support, and testing) for photovoltaic power stations; and (ii) sale of patented photovoltaic tracking mounting bracket systems. 

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 Tonking and other professional parties to provide professional, comprehensive and efficient legal services for this project. In respect of the registration of prospectus under the new electronic signature regime implemented by the Hong Kong Stock Exchange since 1 July 2024, DeHeng Hong Kong communicated with the Hong Kong Stock Exchange, coordinated with the issuer and other professional parties to register e-signature accounts with the Hong Kong Post Office, and finetuned the formats of the e-documents and the e-signatures. Registration of the prospectus under the new regime and the rights issue were completed smoothly.